Cost Revenue and Profit

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Across
  1. 5. The output increases in the same proportion as all inputs.
  2. 6. Total opportunity costs incurred by a firm for its use of resources whether purchased or self-owned.
  3. 8. Output increases more than in proportion to the increase in all inputs.
  4. 9. Extra or additional output resulting from one additional unit of the variable factor.
  5. 10. Time period during which at least one input is fixed.
  6. 11. Total quantity of output produced by a firm.
  7. 12. Payments made by a firm to outsiders to acquire resources for use in production.
  8. 13. Time period when all inputs can be changed.
Down
  1. 1. Total quantity of output per unit of variable input.
  2. 2. The sacrificed income arising from the use of self-owned resources by a firm.
  3. 3. Cost arise from the use of variable inputs.
  4. 4. Output increases less than proportionate to increase in all inputs.
  5. 7. Cost arise from the use of fixed inputs.
  6. 9. The extra cost of producing one more unit of unit.