Posted by Joan on Friday, July 31, 2009 at 7:41pm.
Profits=income-costs
There are hundreds of "formulas" for profit.
Profit = Revenue - Cost
Suppose you have a lemonade stand.
It costs you 10 cents to make a glass of lemonade. You charge each customer 25 cents a glass. Therefore your profit is 15 cents per glass.
15 = 25 - 10
http://earthmath.kennesaw.edu/main_site/review_topics/economics.htm
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