firm's profit equation demonstrates that profit equals __________.

Name: firm's profit equation demonstrates that profit equals __________.
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Question

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The profit equation is generally expressed as total revenue minus total cost. This formula takes into account all the revenue earned by the firm and subtracts all the costs involved in producing and selling the goods or services. This leaves the profit as the amount that remains after all costs have been subtracted from revenue.

Firm's Profit Equation Demonstrates That Profit Equals __________