ECONOMICS
PROFIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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money the company earns after paying all of its production costs.
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paper, binding, and other supplies the company purchases.
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total amount the company receives from the sale of its books.
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amount of money the company earns from selling a single book.
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Detailed explanation-1: -Answer. Answer: A. Money the company earns after paying of its production costs. The South Avenue company’s profit starts right after paying of its production costs.
Detailed explanation-2: -Revenue is the total amount producers receive after selling a good. Profit is the total amount producers earn after subtracting the production costs.
Detailed explanation-3: -What Is Marginal Benefit? A marginal benefit is a maximum amount a consumer is willing to pay for an additional good or service. It is also the additional satisfaction or utility that a consumer receives when the additional good or service is purchased.
Detailed explanation-4: -What is the difference between profit and revenue? Revenue is the total income a business generates through its sales. Profit is the portion of that income that remains after subtracting that company’s operating costs, debts, taxes, and any other expenses it incurs in the interest of generating revenue.
Detailed explanation-5: -Marginal revenue is the money earned by selling an additional unit of a good or service.