WebExpert Answer. 1. B. Total revenue minus total cost Explanation : Profit is the amount after spending all the expenses from revenue. Profit =TR- …. 1. Profit is defined as a. net revenue minus depreciation. b. total revenue minus total cost. c. average revenue minus average total cost. d. marginal revenue minus marginal cost. Web12) Profit is defined as: A) total revenue minus total cost B) total receipts from sales C) total sales less taxes D) the number of units sold multiplied by the price per unit 13) In economic theory, we assume that the objective of a firm is to: A) maximize total revenue B) become a monopoly and dominate the industry C) avoid taxes and government …
Explicit and implicit costs and accounting and economic …
WebTotal Revenue equals Quantity times price firms costs of production includes every cost, even opportunity costs explicit costs input costs that require an outlay of money by the … WebCorrect answers: 3 question: Economic profit is defined as Question 17 options: a) total revenue plus what must be paid to resources to attract them from their best alternative use. b) total revenue divided by what must be paid to resources to attract them from their best alternative use. c) the price of the goods sold minus the quantity of goods sold. d) total … raw in new castle pa
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WebMar 13, 2024 · Profit Margin Formula When assessing the profitability of a company, there are three primary margin ratios to consider: gross, operating, and net. Below is a breakdown of each profit margin formula. Gross … WebThe definition of net profit is that it is the difference between a company’s revenue and expenses. ... including non-operating expenses, such as debt repayments and restructuring costs, from total revenue. Net profit examples. Here are some examples of net profit. Say we have a clothes store that makes $1m a year, and spends $500,000 on rent ... WebJul 25, 2024 · Gross profit is the difference between net revenue and the cost of goods sold. Total revenue is income from all sales while considering customer returns and discounts. Cost of goods sold is... simple flower rangoli designs