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Question
to calculate profit, producers subtract their total production cost from their total revenue. marginal revenue marginal cost total units produced
Profit is calculated as total revenue minus total cost. Total revenue is the total income from selling all units of a product. Marginal revenue is the additional revenue from selling one - more unit, marginal cost is the additional cost of producing one - more unit, and total units produced is just the quantity of production. None of the other options are used in the basic profit - calculation formula.
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total revenue