Answer:
A firm determines its profit by subtracting "Total Cost" from "Total Revenue".
Step-by-step explanation:
We have been given a statement "A firm determines its profit by subtracting _____ from ______. Now we need to fill the blanks with suitable words.
We know that there are some initial costs associated with production of any product. So to get the profit, we need to subtract the cost that that is spent during production of the product from total sales.
Hence final answer can be written as:
A firm determines its profit by subtracting "Total Cost" from "Total Revenue".
