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1. What does line 1 represent? to. Total variable cost b. Sales income c. Total cost d. None of the above 2. What does the
1. What does line 1 represent?
to. Total variable cost
b. Sales income
c. Total cost
d. None of the above
2. What does the area between line 1 and line 2 represent?
to. Total variable cost
b. Profit or loss
c. Total marginal contribution
d. None of the above
3. The area that represents profit is the area:
to. Between line 1 and line 2
b. Between line 3 and line 2
c. Between line 3 and line 1 through the entire relevant range
d. Between line 3 and line 1 to the right of the point where these two lines intersect.
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