To calculate profit, producers subtract their total production cost from their

a. total revenue

b. marginal revenue

c. marginal cost

d. total units cost

Answer: Total revenue

Explanation:

Hi, to calculate profit producers subtract their total production cost from their total revenue.

The formula is:

Profit = Total revenue - total production cost.

Total revenue is the total amount that a producer earns from selling goods or services during a certain period of time.

Total productions cost are the sum of total direct materials and labor costs as well as the total manufacturing overhead costs

The Amount earned minus amount expended equals to profit.