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Card 6

Front

The addition to total revenue from the production of one extra unit

Back

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Card 7

Front

Total Revenue-Total Costs

Back

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Card 8

Front

The amount required to keep a factor employed in its present activity in the long run

Back

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Card 9

Front

Where a firm chooses a level of output where marginal revenue equals marginal costs

Back

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Card 10

Front

A return above normal profit - a surplus payment

Back

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Card 11

Front

Profit below normal which should lead to the firms leaving the industry

Back

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Card 12

Front

Where increasing amounts of a variable factor are added to a fixed factor and the amount added to a total product by each additional unit of the variable factor eventually decreases

Back

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Card 13

Front

If you don't have a recognizable brand it will be harder to enter the market

Back

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Card 14

Front

Bigger businesses benefit from low average costs, people choose not to enter the market as they know their costs won't be as low

Back

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Card 15

Front

Legal Protection to prevent copy write of products

Back

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