Answer:. Profit equals Total revenue - Average cost.
Step-by-step explanation:
Hi! I'd be happy to help you with your question. Profit equals: c. (Price - ATC) × Quantity To explain, profit can be calculated by taking the difference between price and average total cost (ATC) and then multiplying this difference by the quantity produced. This method ensures that you are considering both the revenue generated and the costs associated with production to find the overall profit