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Total Revenue
The total income generated by a firm from selling its goods or services, calculated as the price per unit times the number of units sold.
Output Units
Refers to the quantity of goods or services produced within a given time frame.
Average Total Cost
The per-unit production cost, calculated by dividing the overall production cost by the number of units produced.
Profit
The financial gain achieved when the revenue from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.
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