A. total cost and marginal cost
B. total revenue and total cost
C. average cost and total cost
D. price and total cost

Correct Answer: Option B

B. total revenue and total cost

Explanation

Total profit is determined by subtracting total costs from revenues. Total revenue is determined by multiplying the price received for each unit sold by the number of units sold.

SEE ALSO  One of the functions of money is?

Copyright warnings! Do not copy.