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Profit v.2

Last modified by
on
Jul 24, 2020, 6:28:07 PM
Created by
on
May 30, 2015, 7:46:42 PM
`"Profit" = ( "Price" - "Average Total Cost" )* "Quantity" `
`"Unit Price"`
`"Average Unit Cost. Also referred to as Unit Cost"`
`"Quantity Produced"`
Tags
Microeconomics Average Price Cost Profit Quantity Total
UUID
98c2ef50-0704-11e5-a3bb-bc764e2038f2

This Profit calculator computes a company's profit as a function of the average Unit Price, Unit Cost and Quantity Produced. Profit is a firm's total revenue minus its total cost. INSTRUCTIONS Enter the following:

  • Unit Price
  • Average Unit Cost
  • Quantity Produced

The calculator will compute the Profit.  Note that the Unit Price, Average Unit Cost and the Profit are all in U.S. Dollars (USD).  However, additional units (e.g. Brazilian Real) are available via the pull-down menu.

Resource:

  • Mankiw, N. Gregory. "Chapter 14:Profit Maximization and the Competitive Firm's Supply Curve." Principles of Microeconomics. 6th ed. Mason, OH: Thomson/South-Western, 2004. 282-89. Print.
This equation, Profit v.2, is used in 2 pages
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