Production Costs and Revenues

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Across
  1. 2. Output per worker.
  2. 4. When a firm changes the scale of all factors of production.
  3. 5. Time period in which at least one of the factors of production are fixed and cannot be varied.
  4. 7. efficiency: Minimised average total cost.
  5. 12. Total revenue subtract total costs.
  6. 16. Cost saving through changing the production process.
  7. 17. Total production cost divided by total output (cost per unit of output).
  8. 19. Price of each good, multiplied by quantity sold.
  9. 22. of scale: Firms saving resulting from growth of the industry a firm is part of.
  10. 23. Firms saving resulting from growth of the firm itself.
Down
  1. 1. Output per unit of capital.
  2. 3. When long-run average costs fall as output rises.
  3. 6. of labour Different workers performing different tasks in a good's/services' production, specialising to an extent.
  4. 8. When long-run average costs rise as output rises.
  5. 9. Costs incurred when paying for the variable factors of production.
  6. 10. Costs of production that do not vary with output, only in the short run.
  7. 11. Total revenue divided by total output (revenue per unit of output).
  8. 13. Time period in which none of the factors of production are fixed, and all can be varied.
  9. 14. A worker only performing a specific task or a small range of tasks.
  10. 15. A set of processes that converts inputs into outputs.
  11. 18. Output per unit of input.
  12. 20. cost Long-run total cost per unit of output.
  13. 21. Total fixed cost added to total variable cost.