Section 3-Microeconomic decision makers-2
- 3. total money obtained from sales
- 7. total revenue/number of product sold
- 8. output per worker.
- 1. total revenue = total cost (no profit or loss made)
- 2. total cost/output.
- 4. costs that have to be paid regardless of level production (rent, loan repayments)
- 5. A group of firms producing similar or same goods
- 6. integration or merging of firms at the same stage of production