Which of the following can be added to a firm's ...
Which of the following can be added to a firm's profit to obtain total revenue?
Total variable cost
Total fixed cost
Marginal cost
Total revenue
Correct answer is D
Total Revenue (TR) is calculated by multiplying the quantity of goods sold (Q) by the price of the goods (P).
For example, if you sold 120 pens for N2 each: To find your Profit: You will have to subtract the Total Cost (TC) from your Total Revenue(TR).
Recall that we defined a firm's short-run total costs as
Total Cost = TFC + TVC.
Now we can define economic profit as:
Profit = Total Revenue - Total Cost
All the following are source of finance to a joint stock company except ...
A possible factor which limits the extent of growth of a firm is the ...
The quickest way of achieving an economic union on regional basis is to remove all ...
Human development can be improved if ...
An increase in supply will lower price unless ...
Which of the following is likely to reduce a surplus in the balance of payments of a country? ...
Which of the following budgets will increase government expenditure? ...