revenue, costs and profits
- Created by: Muskaan Dhaliwal
- Created on: 02-08-19 16:16
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- revenue, costs and profit
- revenue
- income from selling to customers
- sales x price
- costs
- fixed costs
- doesn't vary with output
- variable costs
- will increase as output expands
- average unit cost
- how much each product costs to make
- total cost / output
- total costs
- variable costs + fixed costs
- fixed costs
- profit
- money earnt on top of business spendage
- revenue - costs
- revenue
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