Profit is the:
A) total amount of money a firm takes in.
B) difference between total revenue and total costs.
C) difference between the price of a good and its total revenue.
D) total amount of sales a firm has.

Question

Quizplus · Accepted Answer

Profit is defined as the difference between total revenue (the total amount of money a firm takes in from selling its goods or services) and total costs (the total amount of money it costs the firm to produce these goods or services).

Profit Is The