Total number of monetary units received by a firm from the sale of a product is called___________________?
Correct answer: B. Total revenue
- A. Nominal profit
- B. Total revenue
- C. Both
- D. None
Explanation
Total revenue is the complete income a firm receives from sales, calculated as price multiplied by quantity sold. Profit is what remains after subtracting total cost, so it is not the same as sales receipts.
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