Term
| How do you find marginal product |
|
Definition
| the new total product - recent total product |
|
|
Term
| how do you find total cost? |
|
Definition
| the fixed cost * the variable cost |
|
|
Term
| how do you find the marginal cost? |
|
Definition
| total cost / the marginal product |
|
|
Term
| how do you find total revenue? |
|
Definition
| marginal revenue * the total product |
|
|
Term
| how do you find the profits? |
|
Definition
| total revenue - total costs |
|
|
Term
| how do you find the break even point? |
|
Definition
| it is the smallest profit without being negitive. For the answer: write the number of workers |
|
|
Term
| wat is the break even point? |
|
Definition
| the fewest number of workers a buisness employs |
|
|
Term
| how do you find the profit maximization point? |
|
Definition
| when marginal revenue = marginal cost |
|
|
Term
| what is the profit maximization point |
|
Definition
|
|
