A company sells widgets at a price of $5 each. It costs the company $3 to produce each widget. If the company sold 1,000 widgets in 2020, how much revenue would the company record from widgets in 2020:

A-2,000

B-3,000

C- 5,000

D-8,000

A company sells widgets at a price of $7 each. It costs the company $5 to produce each widget. If the company only sold 1,000 widgets in 2020, how much Gross Profit $ (also known as Contribution Margin $ or Gross Margin $) would the company record in 2020:

A-2,000

B-3,000

C-5,000