Revenues, Costs and Profits

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Across
  1. 3. a firm that has to cut its price in order to sell more
  2. 7. where a firm makes as much money as it can
  3. 8. shape like a 'u' - upside down 'u'
  4. 10. the factor of production, such as the size of your apple orchard, which cannot be changed in the short run
  5. 11. this is zero
Down
  1. 1. occur when the average unit costs of production increase beyond a certain level of output
  2. 2. the extra output when one or more factor of output is added
  3. 4. also known as average revenue
  4. 5. has to offer its product at the same price as everyone else
  5. 6. the extra profit gained when one more unit is produced
  6. 9. the period of time in which at least one factor is fixed
  7. 11. at a point where the average costs are at a minimum, the ____ of output of a firm or plant is reached