1. What is the equation for profit?
- TR X VC
- TC - TR
- TR - TC
- VC + FC
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Other questions in this quiz
2. What is te correct example of variable costs?
- Business rates
3. What are fixed costs?
- Costs that don't change when the business changes the amount it produces and sells
- Costs that change when the business changes the amount it produces and sells
4. What is capital?
- Money that the owners earn
- Profit made by the business
- Money invested by an owner into the business
- Moeny given to workers
5. What is the equation for breakeven?
- Fixed cost/ ( TR - TC)
- Fixed cost/ ( Quantity sold - VC per unit?
- Fixed cost/ (Selline price per unit - VC per unit)
- Fixed cost/ (Quantity sold x VC)