Distinguish between : Total Cost and Total Revenue
Q.2 (B) (v) Distinguish between : Total Cost and Total Revenue
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Answer: See the table below.
| Point | Total Cost | Total Revenue |
|---|---|---|
| Meaning | Total expenditure incurred by a firm on all factors of production to produce a given output. | Total sale proceeds received by a firm by selling its output. |
| Formula | TC = TFC + TVC | TR = Price × Quantity sold (P × Q) |
| Side | Related to the production (cost) side of the firm. | Related to the sales (revenue) side of the firm. |
| At zero output | TC is positive (equal to fixed cost). | TR is zero. |
Doubtly AI
· 28 Oct 2026
AI-verified · Oct 2026
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