Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
|
TR |
TOTAL REVENUE |
|
|
Q |
Quality sold |
|
|
TR=P•Q |
Total revenue=price • quantity |
|
|
AR |
Is the revenue per unit of out put |
|
|
AR=TR/Q
|
Average revenue= total revenue/Quality |
|
|
TC |
TOTAL COSTS |
|
|
π |
Profit |
|
|
FC |
FIXED COST |
|
|
VC |
variable cost |
|
|
AC |
Average cost per unit of out put |
|
|
AVC |
Average variable cost |
|
|
AFC |
Average fixed cost |
|
|
tc=fc+vc |
Total coat =fixed cost +variable cost |
|
|
AC=TC/Q |
AC cost per unit of out put |
|
|
AVC =VC/Q |
VARIABLE COST per unit of output |
