Price equals
Total revenue - Quantity
Total revenue/Quantity sold
Total quantity sold × Quantity sold
Total revenue/Total cost
Revenue received from the sale of additional unit is termed as
Average Revenue
Marginal Revenue
Total Revenue
Profit
Average fixed cost is
Never becomes zero
Curve never touches x - axis
Curve never touches y - axis
All the above
Average revenue is always __________ the price of the commodity.
More than
Equal to
Lesser than
More or lesser than
If firms earn normal profits :
They will aim to leave the industry
Other firms will join the industry
The total revenue equal total costs
No profit is made in accounting terms
_________ are short run cost.
AC
MC
TC
If all the units of the product are sold at the same price average revenue will be __________ marginal revenue.
_________ cannot be changed in the short period .
Fixed Cost
Production Cost
Total Cost
Variable Cost
The average variable cost curve:
Is derived from the average fixed costs
Converges with the average cost as output increases
Equals the total costs divided by the output
Equals revenue minus profits
The profit per sale is a measure of
Cash Flow
Profitability
Feasibility
Liquidity
