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Revenue, Profits, and Price (Crash Course)
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Revenue, Profits, and Price (Crash Course)
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22 Questions

1. What changes variable costs?

2. What are two types of profit?

3. Understanding the law of diminishing marginal returns helps people learn to balance what?

4. If you have a juicer for making juice, what is the fixed cost?

5. What is the term used for the minimum amount of economic profit a company needs to stay in business

6. If you have a juicer for making juice, what is the variable cost?

7. Marginal cost

8. How do you calculate average cost?

9. What is sunk cost?

10. Accounting Profit is cost subtracted from what?

11. The more pizza you make, the more ingredients you need, and the more the cost. What kind of cost does that refer to?

12. What is another name for cost per unit?

13. What is marginal revenue?

14. Economics see another cost besides the financial one. What is it?

15. What is Economies of scale?

16. When does the law of diminishing marginal returns comes into play?

17. The cost of a pizza oven is what kind of cost?

18. What are two types of costs?

19. In the statement 'Produce where MR equals MC' what does MC stand for?

20. What does 'Produce where MR equals MC' refer to?

21. Buying expensive equipment only makes sense if what?

22. Revenue minus cost equals what?

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