The Total Money Received from the Sale of a Product

question 80

Multiple Choice

The total money received from the sale of a product is referred to as

• A) profit.
• B) total revenue.
• C) average revenue.
• D) marginal revenue.
• E) derived demand.

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Definitions:

Unit Cost

Unit cost is the total expense incurred to produce, store, and sell one unit of a product or service, including both fixed and variable costs.

Operating Profit

Income from business operations after operating expenses are subtracted from gross profits, but before taxes and interest expenses.

Operating Expense

ongoing costs for running a product, business, or system.

Operating Profit

The earnings of a business from its core operations, excluding the effects of interest and taxes.