HSC Science (General) 12th Board ExamMaharashtra State Board
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Solution - Distinguish Between Total Cost and Total Revenue. - HSC Science (General) 12th Board Exam - Economics

Question

Total Cost and Total Revenue.

Solution

  Total Cost   Total Revenue
1 It refers to total cost incurred for production of a commodity. 1 It refers to the total amount of money received from sale.
2
Total cost = Fixed cost + Variable cost.
2 Total Revenue = Price x Quantity.
3 It increases with increase in output 3 It increases with increase in sale.
4 It shows total cost of producing a commodity. 4 It refers to the sale proceed received at a particular period of time.
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APPEARS IN

 2015-2016 (March) (with solutions)
Question 3.1.2 | 2 marks

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Solution for question: Distinguish Between Total Cost and Total Revenue. concept: Concept of National Income. For the courses HSC Science (General) , HSC Arts, HSC Science (Computer Science), HSC Science (Electronics), HSC Commerce (Marketing and Salesmanship), HSC Commerce
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