The addition to total revenue from the production of one extra unit
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Card 7
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Total Revenue-Total Costs
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Card 8
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The amount required to keep a factor employed in its present activity in the long run
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Card 9
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Where a firm chooses a level of output where marginal revenue equals marginal costs
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Card 10
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A return above normal profit - a surplus payment
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Card 11
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Profit below normal which should lead to the firms leaving the industry
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Card 12
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Where increasing amounts of a variable factor are added to a fixed factor and the amount added to a total product by each additional unit of the variable factor eventually decreases
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Card 13
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If you don't have a recognizable brand it will be harder to enter the market
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Card 14
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Bigger businesses benefit from low average costs, people choose not to enter the market as they know their costs won't be as low
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Card 15
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Legal Protection to prevent copy write of products
