T3

course Mth 271

I am studing for test 3 right now and I know that on the last test we had that cost function stuff but I dont know if I got it right and I cant find what section it is in......I have looked threw my notes but I just cant seem to find it again......please point me in the right direction! Thanks!

I'm sorry I didn't get back to you on this before the test, but for future reference:

revenue is how much money you take in
cost is how much it costs you to produce whatever you're selling

profit is how much of your revenue you have left after you deduct the costs:

profit = revenue - cost.

T3

I'm sorry I didn't get back to you on this before the test, but for future reference: revenue is how much money you take in cost is how much it costs you to produce whatever you're selling profit is how much of your revenue you have left after you deduct the costs: profit = revenue - cost.

I'm sorry I didn't get back to you on this before the test, but for future reference:

revenue is how much money you take in
cost is how much it costs you to produce whatever you're selling

profit is how much of your revenue you have left after you deduct the costs:

profit = revenue - cost.