A monopolist is able to maximise his profit when (a) his output is maximum (b) he charges higher prices (c) his average cost is minimum (d) his marginal cost is equal to marginal revenue

A monopolist is able to maximise his profit when
(a) his output is maximum
(b) he charges higher prices
(c) his average cost is minimum
(d) his marginal cost is equal to marginal revenue
by

1 Answer

Answer :

(d) his marginal cost is equal to marginal revenue
by

Related questions

The marginal revenue of a monopolist is: (1) more than price (2) equal to price (3) less than price (4) less than marginal cost

Description : The marginal revenue of a monopolist is: (1) more than price (2) equal to price (3) less than price (4) less than marginal cost

Last Answer : (3) less than price Explanation: A monopolist's marginal revenue is always less than or equal to the price of the good. Marginal revenue is the amount of revenue the firm receives for each additional unit ... - at the new level of output and total revenue at the previous output (one unit less).

The marginal revenue of a monopolist is: (1) more than price (2) equal to price (3) less than price (4) less than marginal cost

Description : The marginal revenue of a monopolist is: (1) more than price (2) equal to price (3) less than price (4) less than marginal cost

Last Answer : less than price 

Average Revenue of a monopolist firm is (a) Always more than the Marginal revenue ; (b) Always less than the Marginal revenue; (c) Equal to marginal revenue ; (d) Any of the above three possible

Description : Average Revenue of a monopolist firm is (a) Always more than the Marginal revenue ; (b) Always less than the Marginal revenue; (c) Equal to marginal revenue ; (d) Any of the above three possible

Last Answer : (a) Always more than the Marginal revenue ;

A firm is in equilibrium when its (1) marginal cost equals the marginal revenue (2) total cost is minimum (3) total revenue is maximum (4) average revenue and marginal revenue are equal

Description : A firm is in equilibrium when its (1) marginal cost equals the marginal revenue (2) total cost is minimum (3) total revenue is maximum (4) average revenue and marginal revenue are equal

Last Answer : (1) marginal cost equals the marginal revenue Explanation: A consumer is in a state of equilibrium when he achieves maximum aggregate satisfaction on the expenditure that he makes depending on the ... its production. In short run Marginal revenue = Marginal Cost is the condition of equilibrium.

A firm is in equilibrium when its (1) marginal cost equals the marginal revenue (2) total cost is minimum (3) total revenue is maximum (4) average revenue and marginal revenue are equal

Description : A firm is in equilibrium when its (1) marginal cost equals the marginal revenue (2) total cost is minimum (3) total revenue is maximum (4) average revenue and marginal revenue are equal 

Last Answer : marginal cost equals the marginal revenue

When marginal cost is equal to marginal revenue, the firm should A)produce more to increase profits. B)produce less to decrease total costs. C)stop producing additional units to maximise profits. D)provide discounts to encourage purchases.

Description : When marginal cost is equal to marginal revenue, the firm should A)produce more to increase profits. B)produce less to decrease total costs. C)stop producing additional units to maximise profits. D)provide discounts to encourage purchases.

Last Answer : C)stop producing additional units to maximise profits.

Under perfect market conditions a firm is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is the maximum; (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum

Description : Under perfect market conditions a firm is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is the maximum; (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum

Last Answer : (b) Profit is the maximum; 

Under perfect market conditions an Industry is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is maximum (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum

Description : Under perfect market conditions an Industry is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is maximum (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum

Last Answer : (a) Total output is equal to total demand ;

A competitive firm maximizes its total profit when ……………… (a) Average cost equal average realization ; (b) Marginal cost equals Price; (d) Total revenue is the maximum ; (d) MR = AR

Description : A competitive firm maximizes its total profit when ……………… (a) Average cost equal average realization ; (b) Marginal cost equals Price; (d) Total revenue is the maximum ; (d) MR = AR

Last Answer : (d) Total revenue is the maximum ;

Difference between average cost and average revenue is (a) total profit (b) net profit © average profit (d) marginal profit

Description : Difference between average cost and average revenue is (a) total profit (b) net profit © average profit (d) marginal profit

Last Answer : © average profit

Under full cost pricing, price is determined (1) by adding a margin to the average cost (2) by comparing marginal cost and marginal revenue (3) by adding normal profit to the marginal cost (4) by the total cost of production

Description : Under full cost pricing, price is determined (1) by adding a margin to the average cost (2) by comparing marginal cost and marginal revenue (3) by adding normal profit to the marginal cost (4) by the total cost of production 

Last Answer :  by adding a margin to the average cost

Equilibrium output is deter-mined by: (1) the equality between total Variable cost and Marginal revenue. (2) the equality between Marginal cost and Marginal revenue. (3) the equality between Average cost and Average revenue. (4) the equality between total cost and total revenue.

Description : Equilibrium output is deter-mined by: (1) the equality between total Variable cost and Marginal revenue. (2) the equality between Marginal cost and Marginal revenue. (3) the equality between Average cost and Average revenue. (4) the equality between total cost and total revenue.

Last Answer : (2) the equality between Marginal cost and Marginal revenue. Explanation: Equilibrium Output refers to the level of output where the Aggregate Demand is equal to the Aggregate Supply (AD = AS) in an ... because it adds to its profits. He stops producing more only when MC becomes equal to MR.

Equilibrium output is determined by: (1) the equality between total Variable cost and Marginal revenue. (2) the equality betweem Marginal cost and Marginal revenue. (3) the equality between Average cost and Average revenue. (4) the equality between total cost and total revenue.

Description : Equilibrium output is determined by: (1) the equality between total Variable cost and Marginal revenue. (2) the equality betweem Marginal cost and Marginal revenue. (3) the equality between Average cost and Average revenue. (4) the equality between total cost and total revenue.

Last Answer : the equality betweem Marginal cost and Marginal revenue.

Under perfect competition, the industry does not have any excess capacity because each firm produces at the minimum point on its - (1) long-run marginal cost curve (2) long-run average cost curve (3) long-run average variable cost curve (4) long-run average revenue curve

Description : Under perfect competition, the industry does not have any excess capacity because each firm produces at the minimum point on its - (1) long-run marginal cost curve (2) long-run average cost curve (3) long-run average variable cost curve (4) long-run average revenue curve

Last Answer : (2) long-run average cost curve Explanation: Under perfect competition, the firms operate at the minimum point of long-run average cost curve. In this way, the actual longrun output of ... ideal output. This gives the mea-sure of excess capacity which lies unutilized under imperfect competition.

Under perfect competition, the industry does not have any excess capacity because each firm produces at the minimum point on its (1) long-run marginal cost curve (2) long-run average cost curve (3) long-run average variable cost curve (4) long-run average revenue curve

Description : Under perfect competition, the industry does not have any excess capacity because each firm produces at the minimum point on its (1) long-run marginal cost curve (2) long-run average cost curve (3) long-run average variable cost curve (4) long-run average revenue curve

Last Answer : long-run average cost curve

Compared to the case of perfect competition, a monopolist is more likely to: a. charge a higher price b. produce a lower quantity of the product c. make a greater amount of economic profit d. all of the above

Description : Compared to the case of perfect competition, a monopolist is more likely to: a. charge a higher price b. produce a lower quantity of the product c. make a greater amount of economic profit d. all of the above

Last Answer : d. all of the above

When a monopolist charges different prices to each customer it is called price discrimination of – (a) First order ; (b) Second order ; (c) Third order ; (d) Fourth order

Description : When a monopolist charges different prices to each customer it is called price discrimination of – (a) First order ; (b) Second order ; (c) Third order ; (d) Fourth order

Last Answer : (a) First order ;

Average Revenue means - (1) the revenue per unit of commodity sold (2) the revenue from all commodities sold (3) the profit realised from the marginal unit sold (4) the profit realised by sale of all commodities

Description : Average Revenue means - (1) the revenue per unit of commodity sold (2) the revenue from all commodities sold (3) the profit realised from the marginal unit sold (4) the profit realised by sale of all commodities

Last Answer : (1) the revenue per unit of commodity sold Explanation: Average revenue is the revenue per unit of the commodity sold. It can be obtained by dividing the TR by the number of units sold. Then, AR = ... of view. Therefore, average revenue curve of the firm is the same as demand curve of the consumer.

Average Revenue means (1) the revenue per unit of commodity sold (2) the revenue from all commodities sold (3) the profit realised from the marginal unit sold (4) the profit realised by sale of all commodities

Description :  Average Revenue means (1) the revenue per unit of commodity sold (2) the revenue from all commodities sold (3) the profit realised from the marginal unit sold (4) the profit realised by sale of all commodities

Last Answer : the revenue per unit of commodity sold

In equilibrium, a perfectly competitive firm will equate - (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost

Description : In equilibrium, a perfectly competitive firm will equate - (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost

Last Answer : (4) marginal revenue with marginal cost Explanation: A perfectly competitive firm's supply curve is that portion of its marginal cost curve that lies above the minimum of the average variable cost ... marginal cost curve. The marginal cost curve is thus the perfectly competitive firm's supply curve.

In equilibrium, a perfectly competitive firm will equate (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost

Description : In equilibrium, a perfectly competitive firm will equate (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost

Last Answer : marginal revenue with marginal cost

An employer goes on employing more and more of a factor units until : (1) the Average Revenue Productivity becomes equal to Marginal Revenue Productivity. (2) the Marginal Revenue Productivity becomes zero. (3) the Diminishing Marginal Returns sets into operation. (4) the Marginal Revenue Productivity of a factor becomes equal to its reward.

Description : An employer goes on employing more and more of a factor units until : (1) the Average Revenue Productivity becomes equal to Marginal Revenue Productivity. (2) the Marginal Revenue Productivity becomes ... into operation. (4) the Marginal Revenue Productivity of a factor becomes equal to its reward.

Last Answer : (4) the Marginal Revenue Productivity of a factor becomes equal to its reward. Explanation: 'According to the Marginal Productivity Theory, the reward or the price of a factor unit depends upon its ... marginal cost of the factor is greater than MRP, it will reduce employment to reduce its loss.

Under Perfect Competition - (1) Marginal Revenue is less than the Average Revenue (2) Average Revenue is less than the Marginal Revenue (3) Average Revenue is equal to the Marginal Revenue (4) Average Revenue is more than the Marginal Revenue

Description : Under Perfect Competition - (1) Marginal Revenue is less than the Average Revenue (2) Average Revenue is less than the Marginal Revenue (3) Average Revenue is equal to the Marginal Revenue (4) Average Revenue is more than the Marginal Revenue

Last Answer : (3) Average Revenue is equal to the Marginal Revenue Explanation: Perfect competition describes markets such that no participants are large enough to have the market power to set the price of a homogeneous ... , as output will always occur where marginal cost is equal to marginal revenue (MC=MR).

In a perfectly competitive market, a firm's - (1) Average Revenue is always equal to Marginal Revenue (2) Marginal Revenue is more than Average Revenue (3) Average Revenue is more than Marginal Revenue (4) Marginal Revenue and Average Revenue are never equal

Description : In a perfectly competitive market, a firm's - (1) Average Revenue is always equal to Marginal Revenue (2) Marginal Revenue is more than Average Revenue (3) Average Revenue is more than Marginal Revenue (4) Marginal Revenue and Average Revenue are never equal

Last Answer : (1) Average Revenue is always equal to Marginal Revenue Explanation: Average revenue is the amount money received by a firm per unit of output sold. Marginal revenue is the change in total revenue ... . In a perfectly competitive market, a firm's Average Revenue is always equal to Marginal Revenue.

An employer goes on employing more and more of a factor units until : (1) the Average Revenue Productivity becomes equal to Marginal Revenue Productivity. (2) the Marginal Revenue Productivity becomes zero. (3) the Diminishing Marginal Returns sets into operation. (4) the Marginal Revenue Productivity of a factor becomes equal to its reward.

Description : An employer goes on employing more and more of a factor units until : (1) the Average Revenue Productivity becomes equal to Marginal Revenue Productivity. (2) the Marginal Revenue Productivity becomes ... into operation. (4) the Marginal Revenue Productivity of a factor becomes equal to its reward.

Last Answer : the Marginal Revenue Productivity of a factor becomes equal to its reward.

In a perfectly competitive market, a firm’s (1) Average Revenue is always equal to Marginal Revenue (2) Marginal Revenue is more than Average Revenue (3) Average Revenue is more than Marginal Revenue (4) Marginal Revenue and Average Revenue are never equal

Description : In a perfectly competitive market, a firm’s (1) Average Revenue is always equal to Marginal Revenue (2) Marginal Revenue is more than Average Revenue (3) Average Revenue is more than Marginal Revenue (4) Marginal Revenue and Average Revenue are never equal

Last Answer : Average Revenue is always equal to Marginal Revenue

Under Perfect Competition (1) Marginal Revenue is less than the Average Revenue (2) Average Revenue is less than the Marginal Revenue (3) Average Revenue is equal to the Marginal Revenue (4) Average Revenue is more than the Marginal Revenue

Description : Under Perfect Competition (1) Marginal Revenue is less than the Average Revenue (2) Average Revenue is less than the Marginal Revenue (3) Average Revenue is equal to the Marginal Revenue (4) Average Revenue is more than the Marginal Revenue

Last Answer : Average Revenue is equal to the Marginal Revenue

Which of the following statement is true (a) In perfect competition Average and Marginal revenue are identical (b) In perfect competition Average and Marginal cost are identical (c) In perfect competition Average price and Marginal cost are identical (d) In perfect competition only normal profit can be earned by a firm

Description : Which of the following statement is true (a) In perfect competition Average and Marginal revenue are identical (b) In perfect competition Average and Marginal cost are identical (c) In perfect competition ... cost are identical (d) In perfect competition only normal profit can be earned by a firm

Last Answer : (a) In perfect competition Average and Marginal revenue are identical

Equilibrium price in the market is determined by the - (1) equality between marginal cost and average cost. (2) equality between total cost and total revenue. (3) equality between average cost and average revenue. (4) equality between marginal cost and marginal revenue.

Description : Equilibrium price in the market is determined by the - (1) equality between marginal cost and average cost. (2) equality between total cost and total revenue. (3) equality between average cost and average revenue. (4) equality between marginal cost and marginal revenue.

Last Answer : (4) equality between marginal cost and marginal revenue. Explanation: The equilibrium price is the market price where the quantity of goods supplied is equal to the quantity of goods demanded. This is the ... in equilibrium at the point of equality of marginal cost and marginal revenue. (MC = MR).

The 'break-even' point is where (1) marginal revenue equals marginal cost (2) average revenue equals average cost, (3) total revenue equals total cost (4) None of the above

Description : The 'break-even' point is where (1) marginal revenue equals marginal cost (2) average revenue equals average cost, (3) total revenue equals total cost (4) None of the above

Last Answer : (3) total revenue equals total cost Explanation: Break-even is the point of balance between making either a profit or a loss. In economics & business, specifically cost accounting, the break ... although opportunity costs have been "paid", and capital has received the riskadjusted, expected return.

The 'breali-even point' is where - (1) marginal revenue equals marginal cost (2) average revenue equals average cost (3) total revenue equals total cost (4) None of these

Description : The 'breali-even point' is where - (1) marginal revenue equals marginal cost (2) average revenue equals average cost (3) total revenue equals total cost (4) None of these

Last Answer : (2) average revenue equals average cost Explanation: The break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one ... been made, although opportunity costs have been "paid", and capital has received the riskadjusted, expected return.

The equilibrium of a firm under perfect competition will be determined when - (1) Marginal Revenue > Average Cost (2) Marginal Revenue > Average Revenue (3) Marginal Revenue = Marginal Cost (4) Marginal Cost > Average Cost

Description : The equilibrium of a firm under perfect competition will be determined when - (1) Marginal Revenue > Average Cost (2) Marginal Revenue > Average Revenue (3) Marginal Revenue = Marginal Cost (4) Marginal Cost > Average Cost

Last Answer : (3) Marginal Revenue = Marginal Cost Explanation: 173. (3) When the marginal revenue productivity of a factor is equal to the marginal- cost (MR=MC) of the factor, the firm will be in ... revenue and marginal revenue (P = AR = MR) is the standard condition for a perfectly competitive firm.

In order to maximize profits, a monopoly company will produce that quantity at which the: a. marginal revenue equals average total cost b. price equals marginal revenue c. marginal revenue equals marginal cost d. total revenue equals total cost

Description : In order to maximize profits, a monopoly company will produce that quantity at which the: a. marginal revenue equals average total cost b. price equals marginal revenue c. marginal revenue equals marginal cost d. total revenue equals total cost

Last Answer : c. marginal revenue equals marginal cost

Equilibrium price in the market is determined by the (1) equality between marginal cost and average cost. (2) equality between total cost and total revenue. (3) equality between average cost and average revenue. (4) equality between marginal cost and marginal revenue.

Description : Equilibrium price in the market is determined by the (1) equality between marginal cost and average cost. (2) equality between total cost and total revenue. (3) equality between average cost and average revenue. (4) equality between marginal cost and marginal revenue.

Last Answer : equality between marginal cost and marginal revenue.

The equilibrium of a firm under perfect competition will be determined when (1) Marginal Revenue > Average Cost (2) Marginal Revenue > Average Revenue (3) Marginal Revenue = Marginal Cost (4) Marginal Cost > Average Cost

Description : The equilibrium of a firm under perfect competition will be determined when (1) Marginal Revenue > Average Cost (2) Marginal Revenue > Average Revenue (3) Marginal Revenue = Marginal Cost (4) Marginal Cost > Average Cost

Last Answer :  Marginal Revenue = Marginal Cost

The ‘break-even’ point is where (1) marginal revenue equals marginal cost (2) average revenue equals average cost (3) total revenue equals total cost (4) None of the above

Description : The ‘break-even’ point is where (1) marginal revenue equals marginal cost (2) average revenue equals average cost (3) total revenue equals total cost (4) None of the above

Last Answer : total revenue equals total cost

The ‘break-even point’ is where (1) marginal revenue equals marginal cost (2) average revenue equals average cost (3) total revenue equals total cost (4) None of these

Description : The ‘break-even point’ is where (1) marginal revenue equals marginal cost (2) average revenue equals average cost (3) total revenue equals total cost (4) None of these

Last Answer : average revenue equals average cost

Equilibrium price means (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximise profit

Description : Equilibrium price means (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximise profit

Last Answer :  Price determined by demand and supply

income, prices and rate of interest(c) Average cost and Marginal cost (d) Total cost and Marginal cost

Description : Producers’ surplus is equal to the difference between (a) Price and Marginal cost curve (b) Price and Marginal (c) Average cost and Marginal cost (d) Total cost and Marginal cost curve

Last Answer : ) Price and Marginal cost curve

Under hill cost pricing, price is determined - (1) by adding a margin to the average cost (2) by comparing marginal cost and marginal revem (3) by adding normal profit to the marginal cost (4) by the total al cost of production

Description : Under hill cost pricing, price is determined - (1) by adding a margin to the average cost (2) by comparing marginal cost and marginal revem (3) by adding normal profit to the marginal cost (4) by the total al cost of production

Last Answer : (1) by adding a margin to the average cost Explanation: Full cost pricing is a practice where the price of a product is calculated by a firm on the basis of its direct costs per unit of output ... is known as 'full-cost' pricing. The price is equal to 'full' cost, including an acceptable profit.

If the average revenue is a horizontal straight line, marginal revenue will be - (1) U shaped (2) Kinked (3) Identical with average revenue (4) L shaped

Description : If the average revenue is a horizontal straight line, marginal revenue will be - (1) U shaped (2) Kinked (3) Identical with average revenue (4) L shaped

Last Answer : (3) Identical with average revenue Explanation: The price of a good is also known as the Average Revenue of the firm. Average Revenue (AR) or Price and Marginal Revenue (MR) are identical. ... demand curve. Hence, the competitive demand curve is a horizontal straight line parallel to the OX axis.

The relationship between elasticity of demand (e), Average Revenue (AR) and Marginal Revenue (MR) is shown by which of the following formula ? (a) e = MR / (AR – MR) (b) e = AR/MR (c) e = MR/AR (d) e = AR / (AR – MR)

Description : The relationship between elasticity of demand (e), Average Revenue (AR) and Marginal Revenue (MR) is shown by which of the following formula ? (a) e = MR / (AR – MR) (b) e = AR/MR (c) e = MR/AR (d) e = AR / (AR – MR)

Last Answer : (d) e = AR / (AR – MR)

If the average revenue is a horizontal straight line, marginal revenue will be (1) U shaped (2) Kinked (3) Identical with average revenue (4) L shaped

Description : If the average revenue is a horizontal straight line, marginal revenue will be (1) U shaped (2) Kinked (3) Identical with average revenue (4) L shaped

Last Answer :  Identical with average revenue 

Diamonds are priced higher than water because : (1) they are sold by selected firms with monopolistic powers. (2) their marginal utility to buyers is higher than that of water. (3) their total utility to buyers is higher than that of water. (4) consumers do not buy them at lower prices.

Description : Diamonds are priced higher than water because : (1) they are sold by selected firms with monopolistic powers. (2) their marginal utility to buyers is higher than that of water. (3) their total utility to buyers is higher than that of water. (4) consumers do not buy them at lower prices.

Last Answer : (2) their marginal utility to buyers is higher than that of water. Explanation: The water diamond paradox or puzzle was a mystery of Adam Smith who observed that the price of diamonds was much higher ... is very high and so consumers are willing to pay higher prices for diamond, than for water.

Diamonds are priced higher than water because : (1) they are sold by selected firms with monopolistic powers. (2) their marginal utility to buyers is higher than that of water. (3) their total utility to buyers is higher than that of water. (4) consumers do not buy them at lower prices.

Description : Diamonds are priced higher than water because : (1) they are sold by selected firms with monopolistic powers. (2) their marginal utility to buyers is higher than that of water. (3) their total utility to buyers is higher than that of water. (4) consumers do not buy them at lower prices.

Last Answer :  their marginal utility to buyers is higher than that of water.

firm's marginal revenue A.is always negative B.can be positive C.is always positive D.is zero at point at which the total revenue is maximum

Description : firm's marginal revenue A.is always negative B.can be positive C.is always positive D.is zero at point at which the total revenue is maximum

Last Answer : D.is zero at point at which the total revenue is maximum

A profit maximizing firm will invest up to the level of investment where (a) The cost of borrowing equals marginal efficiency of capital (b) The cost of borrowing is greater than marginal efficiency of capital © The cost of borrowing is less than marginal efficiency of capital (d) The cost of borrowing is equal to marginal propensity to consume.

Description : A profit maximizing firm will invest up to the level of investment where (a) The cost of borrowing equals marginal efficiency of capital (b) The cost of borrowing is greater than marginal ... marginal efficiency of capital (d) The cost of borrowing is equal to marginal propensity to consume.

Last Answer : (a) The cost of borrowing equals marginal efficiency of capital

In pure monopoly, what is the relation between the price and the marginal revenue? a. the price is greater than the marginal revenue b. the price is less than the marginal revenue c. there is no relation d. they are equal

Description : In pure monopoly, what is the relation between the price and the marginal revenue? a. the price is greater than the marginal revenue b. the price is less than the marginal revenue c. there is no relation d. they are equal

Last Answer : a. the price is greater than the marginal revenue

At elasticity of one, marginal revenue is equal to A.one B.zero C.infinity D.none

Description : At elasticity of one, marginal revenue is equal to A.one B.zero C.infinity D.none

Last Answer : B.zero

Sales revenue less cost of goods sold is called a. gross profit. b. net profit. c. net income. d. marginal income.

Description : Sales revenue less cost of goods sold is called a. gross profit. b. net profit. c. net income. d. marginal income.

Last Answer : a. gross profit.