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What is the differences between total revenue and total costs? Make sure that your answer will cover all aspects related with two mentioned concepts. With any supported simple example about petroleum industrial?
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3 votes
What is the differences between total revenue and total costs? Make

sure that your answer will cover all aspects related with two

mentioned concepts. With any supported simple example about

petroleum industrial?
​

User Tiny Instance
by
6.2k points

1 Answer

3 votes

Answer:

The basic difference between Total cost and total revenue is that the total cost includes the total expenditure incurred on the production of a commodity whereas total revenue refers to the money received from selling that commodity.

Step-by-step explanation:

User LiamK
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