Profit Flashcards
1
Q
Total Revenue
A
Selling price x number sold.
2
Q
Total Fixed Cost
A
All fixed costs added together
3
Q
Total Variable Cost
A
Variable cost per unit x Number sold
4
Q
Total Cost
A
Total Fixed Cost + Total Variable Cost
5
Q
Profit
A
Total Revenue – Total Cost
6
Q
Unit Costs
A
Total Cost ÷ Output
