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6. How do you calculate total revenue?
- Quantity sold x Average price.
- Quantity sold x Average cost.
- Quantity sold x Average profit.
7. What does the amount of revenue a business earns each month depend on?
- Both selling price and quantity sold.
- Quantity sold.
- Selling price.
8. An increase in output does not mean an increase in:
- Direct costs.
- Overheads.
- Variable costs.
9. When is a business making loss?
- When revenues are less than costs.
- When revenues are less than costs.
- When revenues equal costs.
10. What is revenue sometimes called?
- Price.
- Turnover.
- Overheads.