To calculate profit, producers subtract their total production cost from their

Question

Harley Tran

History

15 October, 20:23

To calculate profit, producers subtract their total production cost from their

+3

Answers (1)

Know the Answer?

Julianne Buck · Answer 1

To calculate profit, producers subtract their total production cost from their total revenue. It is the total income of a business and is calculated by multiplying a quantity goods sold by the price of the goods. Total revenue in finance refers to the total receipts from sales of a given capacity of goods or services.