Answers
Money earned by a business over a set period from sales
Expense that remains constant regardless of output produced
Output level where total revenue equals total costs, no profit
Amount by which actual sales exceed break-even sales
Graph showing revenue, total cost and break-even output intersections
Positive financial gain when total revenue exceeds total costs
Expense that changes directly with the level of production
Sum of fixed and variable costs for a given period
Negative result when total costs exceed total revenue
Cost paid for borrowing money or earned on savings