Answer to Question #157427 in Microeconomics for Shahlar

Question #157427

A certain firm produces and sells potato chips. Last year it sold 3 million bags of chips at a price of $3 per bag. For last year, the firm's a. accounting profit was $9 million. b. economic profit was $9 million. c. total revenue was $9 million. d. explicit costs was $9 million.

Expert's answer

c) total revenue was $9 million.

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