Total revenue minus total cost is equal toGroup of answer choicesprofit.consumer surplus.producer surplus.retained earnings.dividends.
Question
Total revenue minus total cost is equal toGroup of answer choicesprofit.consumer surplus.producer surplus.retained earnings.dividends.
Solution
The answer is profit. Total revenue minus total cost is equal to profit. This is a basic principle in economics and business. When a company sells products or services, the money it earns is the total revenue. The total cost includes all the expenses the company had to pay to produce those products or services. The profit is what remains after subtracting the total cost from the total revenue.
Similar Questions
Total revenue minus total cost is equal toGroup of answer choicesthe rate of return.marginal revenue.profit.net cost.
_____ is the amount of money remaining from a firm's sales revenue after it deducts production costs, interest costs, and taxes.Group of answer choicesProfitA dividendWorking capitalNet salesRetained earnings
Profit is calculated as revenue minus total costs.Group of answer choicestruefalse PreviousNext
A firm's total revenue minus its explicit cost is called itsGroup of answer choiceseconomic profit.abnormal profit.accounting profit.normal profit.
The Sales of a company minus its Cost of Goods Sold are equal to:Group of answer choicesthe gross profit.the operating expenses.the net profit.the variable expenses.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.