The difference between total revenue and total cost is: marginal revenue. nominal revenue. average revenue. economic...

The difference between total revenue and total cost is:

	marginal revenue.
	nominal revenue.
	average revenue.
	economic profit or loss.

Total revenue is a firm's:

	difference between revenue and cost.
	ratio of revenue to quantity.
	change in revenue resulting from a unit change in output.
	total output times the price of that output

Expert Solution

1) The difference between total revenue and total cost is = Economic profit or loss

option(D)

2) Total revenue is a firm's = total output times the price of that output

option(D)

Rahul Sunny answered 2 years ago

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