The total money received from the sale of a product is called:
A)total revenue.
B)marginal revenue.
C)total profit.
D)average revenue.

Question

Quizplus · Accepted Answer

Total revenue is the total amount of money received from the sale of a product or service. It is calculated by multiplying the price of the product or service by the quantity sold. Marginal revenue is the additional revenue obtained from selling one more unit of the product, while total profit is the revenue minus the cost of producing the product. Average revenue is the revenue per unit sold, calculated by dividing total revenue by the quantity sold.

The Total Money Received from the Sale of a Product