Answered: Gerstner added $20 billion in annual…

Gerstner added $20 billion in annual revenue to IBM. Which one of the following formulas would calculate the profit IBM earned?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter22: Perfect Competition

Section: Chapter Questions

Problem 8WNG

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Question

Gerstner added $20 billion in annual revenue to IBM. Which one of the following formulas would calculate the profit IBM earned?

Select one:

Profit = cost – income

Profit = price x cost

Profit = income – cost

Profit = price x units sold

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