Lecture 17 Flashcards by Zhi Cai | Brainscape

Q

Since Profit =

Then Profit =

A

Total revenue – total costs

(Average rev – Av costs) x Quantity

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Q

Marginal Revenue (MR)

A

is the total earned from one extra unit of sales

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Q

Marginal Cost (MC)

A

is the additional cost of one extra unit.

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