Income earned by a business over a period of time.https://www.goconqr.com/assets/icons/trash-ellipse.png
Were do businesses earn most of there income from?
Selling products to customers.
What is the calculation for revenue (formula)
Revenue= Quantity x Price.
Revenue=Fixed cost x Variable cost.
Revenue= Quantity / Price.
Revenue= Fixed cost / Variable cost.
Variable costs are costs that will increase as the firm expands.
Variable costs are costs that will decrease as the firm expands.
Fixed costs are only fixed over a _____________________ - an expanding firm's fixed costs will go up.
Short period of time.
Long period of time.