The is the total amount spent on a good and received by the

The ______ is the total amount spent on a good and received by the seller

Solution

ans. (Must be) \'Total Expenditure\'.

The total expenditure is the total amount spent on the goods and services and it is calculated by multyplying the price into the quantity demanded.

There is a principle says that the total income must be equal to the total expenditure. Here the amount spent is a expenditure for the consumer and income for the seller.