Question

Total Cost and Total Revenue.

Answer 1

	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.