marginal anaylsis and eneterprise budgets quiz

You want your rev to be greater than or less than your costs

Rev Greater than costs

Short run talks about both variable costs and total costs

False, SR only talks about variable costs

LR talks about both

How to find added rev

Change in production divided by the price of what is being produced

How to find added costs

Change in costs divided by the price of what is being used

how to find change in margin

Added rev subtracted by added costs

How to find total rev

Number of production multiplied by the price of what is being produced

How to find total costs

Number of what is costing you multiplied by price of what is being used

How to find margin

Total rev subtracted by the total costs

Variable costs

Something that can change over time

How to find total variable costs

Variable costs multiplied by units used

How to find depreciation

Original sale price minus the used price all divided by how long it was used

How to find interest

Original sale price added to the used price all divested by 2 times APR

How to find TIS

Original sale price times TIS rate

How to find total costs

Sun of depreciation, interest and TIS

How to find short run break even of price

Total variable costs divided by quantity

How to find the SR breakeven of yield

Total variable costs divided by the price per unit

how to find SR breakeven if there are rev involved

Total variable costs minus rev divided by the quantity or price per unit

How to find LT break even

Total costs divided by the quantity