Question

if a firm's total revenue is equal to $800 and its total costs are equal to $472, what are its profits?

Answer 1

Gross profit= $328

Step-by-step explanation:

Giving the following information:

Sales revenue= $800

Total costs= $472

To calculate the total profit of this company, all we have to do is deduct from earnings all the cost components. I will assume that total costs include both fixed and variable costs.

Gross profi= 800 - 472

Gross profit= $328