Answer: Profit = Revenue - Production cost.
Explanation:
There is a correlation between the volume produced and sold and its impact on revenue, cost, and profit. These relationships are termed the revenue function, cost function, and profit function. These connections can be represented in terms of tables, graphs, or algebraic equations.
The profit is the difference between revenue and production cost.
Revenue is the product of the price per unit times the number of units sold.
The cost function is composed of the fixed cost component that remains the same despite the volume of units, and the variable cost component times the number of items.
When farmers’ incomes fell due to low prices in the 1920s, they <span>Sold land, a lot and generally headed into cities or to California as they were unable repay their loans.</span>
Developments were made in irrigation, crop raising and breeding, building and handicrafts. Trade and commerce also flourished, and the Silk Routes became an increasingly important part of economic and cultural life, whilst coinage from this time serves as an indication of the political structure of the Kushan Empire
Answer:
Assembly lines are an example of job specialization environments. Since productive activities are reduced to very simple tasks performed by various individuals throughout the whole system. These workers are very specialized in what they do since they only do one task.
