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12 cards from this deck
Total income from selling goods/services in a time period
Price × Quantity
Sales revenue or turnover
Costs that stay constant regardless of production level
Rent, business rates, insurance, manager salaries
Costs that change directly with amount produced
Raw materials, packaging, production wages, electricity
Cost per unit × Quantity produced
Total fixed costs + Total variable costs
It decreases
Fixed costs and variable costs
Revenue - Total costs
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