Unit 4: Lesson 23 - Make a Profit: Do the Math Working as consultant teams, students use basic math to compute fixed costs, total costs, marginal costs, total revenues, marginal revenues, and profits (or losses) for a business. They determine the profit-maximizing quantity of output for the business, and analyze their results in terms of marginal revenues and marginal costs. Concepts: - Marginal Analysis
- Profit
- Marginal Cost
- Marginal Revenue (MR)
- Total Cost (TC)
- Total Revenue (TR)
Standards: - Standard #2: Decision Making
- Standard #14: Entrepreneurship
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