Examlex
What are two key concepts to keep in mind as you shop for credit?
Total Revenue
The overall amount of money generated by a firm from its sales activities before any expenses are subtracted.
Marginal Cost Curve
It illustrates the change in total cost that arises when the quantity produced is incremented by one unit; this is the cost of producing one additional unit of a good.
Short-Run Supply
The supply provided by firms in the short term when at least one input, usually capital, is fixed.
Economic Profit
The contrast between the aggregate income and complete costs, both visible and unseen, of a company.
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