Key terms(2.2.2) Flashcards
1
Q
Python maze generator program
Average cost definition
A
the cost of producing one unit
total costs / output
2
Q
Fixed costs definition
A
costs that do not change when output/sales changes
3
Q
Revenue definition
A
the amount of income for a business generated from its sales
selling price x quantity sold
4
Q
Sales revenue definition
A
selling price x sales volume
5
Q
Total costs definition
A
total fixed costs + total variable costs
6
Q
Variable cost definition
A
costs that vary according to the level of output
