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What is the relationship of total costs to profit?

Sagot :

The relationship of the total cost is the sum of the fixed cost and variable cost.
dannypooh
Economists consider the relationship between total revenue profits and total costs when calculating the overall value of a business venture. Total cost calculations provide a method for entrepreneurs to expense the opportunity costs associated with long-term ventures. Total revenue profit calculations provide a broader understanding of how much value business owners are receiving in light of factors that are not visible or easily measured.
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