Profit Maximisation

Horizontal merger

Vertical merger

Conglomerate merger

Total revenue (TR)

Average Revenue (AR)

Marginal Revenue (MR)

short run

long run

fixed cost of production

variable cost of production

average fixed cost (AFC)

Total Fixed Cost (TFC)

Total Variable Cost (TVC)

Average Variable Cost (AVC)

Total Costs of Production (TC)

Average Cost of Production (AC)

Marginal Cost (MC)

Law of diminishing returns

Law of returns to scale

increasing returns to the scale

constant returns to the scale

decreasing returns to the scale

Economies of Scale (EOS)

Internal economies of Scale

external economies of scale

Diseconomies of Scale (DisEOS)

internal diseconomies of scale

external diseconomies of scale

Technical Economy of Scale

Non-technical Economy of Scale

Implicit Cost

implicit costs