Drag the tiles to the boxes to form correct pairs. Match the different methods used for calculating revenue and profit to the formulas used for calculating them.
total revenue
average revenue
marginal revenue
gross profit
net profit
total revenue / quantities sold
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total sales – cost of goods sold
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price of a product x quantities sold
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total revenue – total cost
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change in revenue / change in quantity sold
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17.     chef a says that garnish should be added to a soup right before serving. chef b says that garnish should be cooked with the other ingredients in a soup. which chef is correct? a. chef a is correct. b. both chefs are correct. c. chef b is correct. d. neither chef is correct. student c   incorrect which is correct answer?

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

Match the different financial task to their corresponding financial life cycle phases