1. How do you calculate profit?
- Subtracting total revenue from total costs.
- Subtracting total costs from total revenue.
- Multiplying the quantity sold by price.
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2. If a company reduces a product's price, what does this mean for their revenue?
- There could be an increase or decrease in revenue.
- There will be a decrease in revenue.
- There will be an increase in revenue
3. How do you calculate total revenue?
- Quantity sold x Average price.
- Quantity sold x Average cost.
- Quantity sold x Average profit.
4. What does the amount of revenue a business earns each month depend on?
- Selling price.
- Both selling price and quantity sold.
- Quantity sold.
5. What is revenue sometimes called?