Revenue received from the sale of products is known as ___ revenue. (a) marginal (b) profit (c) total revenue

Question 14 of 40

Q. Revenue received from the sale of products is known as ______ revenue.

(a) marginal

(b) profit

(d) average

Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2020MCQ· 1mImportance★★★★★

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Revenue from the sale of products is (c) total revenue.

Total Revenue (TR) is the entire amount of money a firm receives from selling its total output. It is calculated as:

TR = Price (P) x Quantity sold (Q)

For example, if a firm sells 100 units at a price of 10 each, TR = 10 x 100 = 1,000.

Why the others are wrong:

(a) Marginal revenue is the addition to total revenue from selling one more unit, not the whole sale value. …

Q.Revenue received from the sale of products is known as ______ revenue.