Business Flashcards
1
Q
What is a total revenue?
A
Selling price x number sold
2
Q
What is total fixed cost?
A
All fixed costs added together
3
Q
What is a total variable cost?
A
Variable cost per unit x number sold
4
Q
What is a total cost?
A
Total fixed cost + Total variable cost
5
Q
What is profit?
A
Total revenue - total cost
