Question

Any producer want to earn maximum profit and minimize cost of production Explain the concept of revenue and profit for the producers

Answer 1

Answer:

In economics, output is defined as the quantity of goods or services produce in a certain period of time by a firm, industry, or country. Output can be consumed or used for further production.

Explanation:

In economics, output is defined as the quantity of goods or services produce in a certain period of time by a firm, industry, or country. Output can be consumed or used for further production.