• Created by: lee42
  • Created on: 09-03-19 18:33

 The Measuremnt of profits

  • Profit- the difference between total revenue and total cost"
  • formula for profit: Profit(p) = total revenue (TR) - total costs (TC)

revenue- income recieved from sales. Also, know as (turnover, sales turnover, sales revenue sales)

Total revneue (TR) = price per unit (P) x quantity sold (Q) (TR= P x…


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