Profit is calculated as revenue minus total costs.Group of answer choicestruefalse PreviousNext
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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.
Total revenue minus total cost is equal toGroup of answer choicesprofit.consumer surplus.producer surplus.retained earnings.dividends.
Total revenue minus total cost is equal toGroup of answer choicesthe rate of return.marginal revenue.profit.net cost.
The level of profit that occurs when the total revenue is to the total cost is known as normal profit.