Topic 06: Cost and Revenue

Introduction 

• Cost 
• Revenue 
• Variable Factors 
• Fixed Factors 
• Short Run 
• Long Run 

Costs of Production 

• Meaning 
• Variable Costs with examples 
• Fixed Costs with examples 
• Total Cost 
• Marginal Cost 
• Average Total Cost 
• Average Fixed Cost 
• Average Variable Cost 

Costs, Revenue and Profit 

• Costs 
• Revenue 
• Profit 
• Break-Even Point