The amount of money that a firm receives from the sales of its output is called __________?

A. total profit
B. total revenue
C. total cost
D. average revenue

Correct Answer: Option B

B. total revenue

Explanation

Total revenue in economics refers to the total receipts/ income from sales of a given quantity of goods or services. It is the total income of a business and is calculated by multiplying the quantity of goods sold by the price of the goods.