Distinguish Between Total Cost and Total Revenue. - Economics

Advertisements
Advertisements

Total Cost and Total Revenue.

Advertisements

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.
  Is there an error in this question or solution?
2015-2016 (March)

APPEARS IN

Video TutorialsVIEW ALL [1]

Share
Notifications



      Forgot password?
Use app×