Total cost divided by the quantity of production

Classified in Economy

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ACCOUNTING PROFIT:Total revenues minus explicit cost.AVARAGEPROFIT:P divided by the quantity of output produced.DISECONOMIES OF SCALE:The long-run average cost of producing each individual unit increases as total output increases.PRIVATE ENTERPRISE:The ownership of businesses by private individuals.REVENUE:Income from sellong a firms profuct defined as price times quantity sold.FIXED COST:Expenditure that must be made before production stars and that does not change regardless of the level of product.SRAC:Shows the total of the average fixed cost and the average variable cost.

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