A firm has TR = 10 × 30 = 300 and TC = 250. Estimate profit.

Practice question · Estimate

A firm has $TR = 10 \times 30 = 300$ and $TC = 250$ . Estimate profit.

Estimate on a scale from 0 to 100.

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50 (answers within ±5 count)

Why

$\pi = TR - TC = 300 - 250 = 50$ . In the short run, positive profit is possible; in the long run, entry would erode it.

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