Answer:
the total revenue is the amount earned from goods and services
the total cost are all the incurred cost wether paid or not to complete the business operations.
The profit will be the difference between these two concepts. Profit when positive (revenues > cost) loss when the opposite occurs.
Economies of scale represent markets when the marginal cost decreases as output increasethus, it becomes always cheaper to continue the production. They arise from learning curves, technological advances, better input material and other factors
Step-by-step explanation: