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3 Tutorials that teach Output Optimization: Total Revenue / Total Cost
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Output Optimization: Total Revenue / Total Cost

Output Optimization: Total Revenue / Total Cost

Author: Catherine Barry
Description:

This lesson will explain Output Optimization: Total Revenue / Total Cost

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Tutorial
Terms to Know
  • Profit

    Total revenue minus total cost.

  • Slope

    Rise over run; change in the value of the y-axis variable relative to a change in the x-axis variable.

  • Total Cost

    All variable and fixed costs associated with production which includes opportunity cost.

  • Total Revenue

    All sales generated by a firm from the sale of a product or service.