profit Flashcards

1
Q

total revenue

A

selling price x quantity sold

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2
Q

total fixed cost

A

all fixed costs added together

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3
Q

total variable cost

A

variable cost per unit x number sold

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4
Q

total cost

A

total fixed cost + total variable cost

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5
Q

profit

A

total revenue - total cost

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6
Q

unit costs

A

total costs ÷ Output

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