Revenue, cost and profit

1

What does 'total cost' mean?

2

What does the amount of revenue a business earns each month depend on?

3

What is revenue sometimes called?

4

An increase in output does NOT mean an increase in:

5

A firm sells 10 units at £5 each. Its total costs are £30. How much profit is made?

6

How do you calculate profit?

7

How do you calculate total revenue?

8

When is a business making a loss?

9

When is a business making a profit?

10

If a company reduces a product's price, what does this mean for their revenue?