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Revenue Function -
Total Revenue generated from selling x units. R(x) = xp(x)
Cost Function -
The cost of producing x units of a certain product. C(x)
Marginal Profit Function -
The additional profit for selling one additional unit. P'(x) = R'(x) - C'(x)
Average Cost Function -
The cost per unit when x units of a certain product are produced. c(x) = C(x)/x
Profit Function -
Total profit from selling x units. The Excess of revenue over cost. P(x) = R(x) - C(x)
Marginal Cost Function -
The extra cost of producing one additional unit. C'(x)
Demand/Price Function -
The price per unit that the company can charge if it sells x units. p(x)
Marginal Revenue Function -
The extra revenue for selling one additional unit. R'(x)
Author
mahekp
ID
136516
Card Set
Math Quiz
Description
MATH
Updated
2012-02-20T20:54:07Z
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