Profit Flashcards
1
Q
Total revenue
A
Selling price X Numbers sold
2
Q
Total fixed cost
A
All fixed costs added together
3
Q
Total variable costs
A
Variable costs per unit X Number sold
4
Q
Total cost
A
Total fixed costs + Total variable costs
5
Q
Profit
A
Total revenue - Total costs
6
Q
Unit costs
A
Total Cost ÷ Output
