Asked by Ebenezer Akinoluyemi on May 18, 2024
Verified
Total revenue equals
A) price × quantity.
B) price/quantity.
C) (price × quantity) − total cost.
D) output − input.
Total Revenue
The entire sum of funds a business gains from selling products or offering services over a specified timeframe.
Total Cost
The complete amount of money spent by a business to produce a specific quantity of goods or services, including both fixed and variable costs.
- Determine the cumulative financial gain, cost outlay, and net income in assorted conditions.
Verified Answer
CJ
Courtney JohnsonMay 21, 2024
Final Answer :
A
Explanation :
Total revenue is calculated by multiplying the price of a good or service by the quantity sold.
Learning Objectives
- Determine the cumulative financial gain, cost outlay, and net income in assorted conditions.