MKTG 311 Chapter Notes - Chapter 13: Unit Price, Fixed Cost, Variable Cost
27 May 2016
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Document Summary
Average revenue (ar) - the average amount of money received for selling one unit of a product, or simply the price of that unit. Barter - the practice of exchanging products and services for other products and services rather than for money. Break-even analysis - a technique that analyzes the relationship between total revenue and total cost to determine profitability at various levels of output. Break-even chart - a graphic presentation of the break-even analy-sis that shows when total revenue and total cost intersect to identify profit or loss for a given quantity sold. Break-even point (bep) - the quantity at which total revenue and total cost are equal. Demand curve - a graph relating the quantity sold and price, which shows the maximum number of units that will be sold at a given price. Demand factors - factors that determine consumers" willingness and ability to pay for products and services.
