See what we can offer to your school
"SimpleStudy just makes sense...”
Get the best plan for your school
10 cards from this deck
Earnings above normal; avg revenue > avg cost
Min. to keep owner in industry; avg revenue = avg cost
Total costs exceed revenue; avg revenue < avg cost
Direct, out-of-pocket expenses (wages, rent, interest)
Value of owner's own resources (forgone rental, salary)
At least one factor fixed; only variable factors change
Complete flexibility; all factors of production adjustable
Many producers & buyers; no single participant influences price
Exclusive control over a commodity/service in a market
Business that must accept market-determined prices
Select your subjects, and get access to A+ resources today.