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Excess of receipts from sale of goods ov...

Excess of receipts from sale of goods over expenditure incurred on producing them is termed as:

A

Average Revenue

B

Revenue

C

Profits

D

Marginal Revenue

Text Solution

Verified by Experts

The correct Answer is:
C
N/a
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A firm produces 100 units good X. Actual money expenditure incurred on producing this good is rs 1500. the owner supplies inputs worth rs500 for which he does not receive any payment. The economic cost turned out to b rs2100. how do you account for the difference?