WAEC - Economics (2017 - No. 20)
The amount of money that a firm recieves from the sales of its output is called
total profit
total revenue
total cost
average revenue
Forklaring
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.