what is the best definition of profit? profit is the possible income from producing an additional item…
what is the best definition of profit? profit is the possible income from producing an additional item. profit is the price of producing one additional unit of a good. profit is the additional income gained from selling an additional good. profit is the financial gain from business activity minus expenses.
Answer
Brief Explanations:
Profit in business is calculated as total revenue minus total expenses, representing the financial gain. The first three options describe marginal - related concepts (marginal revenue or cost) rather than profit.
Answer:
Profit is the financial gain from business activity minus expenses.