Across
- 5. A market structure with many buyers and sellers, selling identical products.
- 6. The total income earned by a firm from the sale of its output.
- 7. The price at which a firm incurs losses but continues production in the short run.
- 9. The revenue earned per unit of output sold
- 10. The level of output at which the firm's marginal cost equals marginal revenue.
Down
- 1. The revenue earned from selling one additional unit of output.
- 2. The revenue earned by a firm under perfect competition is equal to price.
- 3. Price The price at which a firm earns normal profits.
- 4. The revenue earned by a firm when price remains constant.
- 8. The difference between total revenue and total cost.