Economists refer to a firm's profit as:
A) total revenue.
B) total sales.
C) quantity demanded.
D) revenue minus costs.

Name: Economists refer to a firm's profit as: A) total revenue. B) total sales. C) quantity demanded. D) revenue minus costs.
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Question

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Economists define a firm's profit as the difference between its total revenue and its total costs. This is the amount the firm earns after covering all its expenses.

Economists Refer to a Firm's Profit As