profit Flashcards
1
Q
total revenue
A
selling price x quantity 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 costs ÷ Output
