WAEC Economics 2017 Objective — Question 19
Question 19 of 50 from the West African Examinations Council (WAEC) Economics 2017 Objective paper, with the correct answer and a full explanation.
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Which of the following can be added to a firm's profit to obtain total revenue?
- A. A. Total variable cost
- B. B. Total fixed cost
- C. C. Marginal cost
- D. D. Total costCorrect
Explanation
Since Profit = Total Revenue - Total Cost, then Total Revenue = Profit + Total Cost.
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