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revenue cost = profit pepe unchain Bnb Eth XRP crypto futures coinbase futures binance futures

What is the difference between revenue and economic profit?

Revenue is income from selling a firm’s product; defined as price times quantity sold. Accounting profit is the total revenues minus explicit costs, including depreciation. Economic profit is total revenues minus total costs—explicit plus implicit costs.

What is the relationship between revenue cost and profit?

There is a relationship between the volume or quantity created and sold and the resulting impact on revenue, cost, and profit. These relationships are called the revenue function, cost function, and profit function. These relationships can be expressed in terms of tables, graphs, or algebraic equations.

What is the difference between accounting profit and economic profit?

Accounting profit is the total revenues minus explicit costs, including depreciation. Economic profit is total revenues minus total costs—explicit plus implicit costs. Explicit costs are out-of-pocket costs for a firm—for example, payments for wages and salaries, rent, or materials.

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