What do you mean by total revenue and total cost? – InterviewSolution

1.	What do you mean by total revenue and total cost?
Answer» Total Revenue – The amount of money received by the sale of an item by a firm is called total revenue. In the form of formula, Total Revenue = Quantity Sold × price (per unit). Total Cost – Total cost is the total expenditure on the production of certain quantity of a commodity. In the form of formula, Total Cost = Total Fixed Cost + Total Variable Cost.

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