Across
- 4. ______________ costs change directly according to output.
- 9. _______________ costs do not directly change with output.
- 10. The process of turning inputs into outputs.
- 11. _______________ of scale is the concept of decreased efficiency and increased average cost due to growth.
Down
- 1. The net value of sales revenue less costs.
- 2. The efficiency of a unit of labour or capital at producing output.
- 3. Income from sales.
- 5. _______________ of scale is the concept of increased efficiency and lower average cost due to growth.
- 6. Humans used by a firm to produce output.
- 7. Equipment or finance used by a firm.
- 8. Space or natural resources used by a firm.