Profit Flashcards

1
Q

Total Revenue

A

Selling price x number 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 Cost ÷ Output

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