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total cost= total revenue, it is the same thing in different name.
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∙ 12y ago
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When profit is maximized in a perfectly competitive firm?
At the output level at which the slopes of the total revenue and total cost curves are equal, provided the firm is covering its variable cost
Profit maximization using Total revenue and Total cost approach?
level of output to look at the total revenue and total cost curve directly
Why total revenue equal to total cost?
No total revenue is total finance in, you need to take from this the running costs of the business to get the gross profit (net sales minus the cost of goods and services sold).
Explain how the diminishing returns influences the shape of the variable cost and total cost curves?
how diminishing returns influences the shapes of the variable-cost and total-cost curves
How do you get the total revenue?
Total sales - Cost of goods sold = Revenue
When profit is maximized in a perfectly competitive firm?
At the output level at which the slopes of the total revenue and total cost curves are equal, provided the firm is covering its variable cost
Profit maximization using Total revenue and Total cost approach?
level of output to look at the total revenue and total cost curve directly
Why total revenue equal to total cost?
No total revenue is total finance in, you need to take from this the running costs of the business to get the gross profit (net sales minus the cost of goods and services sold).
Explain how the diminishing returns influences the shape of the variable cost and total cost curves?
how diminishing returns influences the shapes of the variable-cost and total-cost curves
How do you calculate marginal revenue cost by math and graphically and marginal in general?
Profit=Total revenue - Total cost
What is the formula for Total Revenue and Total Cost?
Total revenue equals the sale price of products multiplued by the total amount of units sold
How do you get the total revenue?
Total sales - Cost of goods sold = Revenue
How does a firm calculate its profit?
total revenue minus total cost
The difference between total revenue and total cost?
profit or loss
If the total revenue is 3000 cost of goods is 1500 and total selling expense is 500 what is the profit for the business?
If total revenue is 3000, the cost of goods is 1500, and total selling expense is 500 then the profit made is 1000.
What is the formula for calculating total cost?
well if your talking about the total cost in economics, than it would be profit=TC-TR TR- total revenue TC- Total cost
If total Revenue is 3000 Cost of Goods is 1500 and total Selling Expense is 500 what is the Profit for the business?
If total revenue is 3000, the cost of goods is 1500, and total selling expense is 500 then the profit made is 1000.
