You see the latest cell phone in the store, and you want it. You have enough money to pay the _____ of the phone, so you buy it.

revenue,

price,

profit

If you have enough money to buy a phone you want, you can pay the price charged by the store. Price is the amount charged for each unit of good or service that a store charges. Revenue is the total quantity sold multiplied by the price charged to consumers. Profit will be total revenue less fixed and variable store costs, such as inputs, labor, rents, and any expenses the store may incur in the process of producing and selling the product.

You see the latest cell phone in the store, and you want it. You have enough money to pay the _____ of the phone, so you buy it. revenue,price,profit

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You see the latest cell phone in the store, and you want it. You have enough money to pay the _____ of the phone, so you buy it.

revenue,

price,

profit