25C00100 - Entrepreneurship and Innovation Management, 01.11.2018-22.11.2018
This course space end date is set to 22.11.2018 Search Courses: 25C00100
Glossary
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P |
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P=MCPrice equals marginal cost, meaning the price just
covers the cost of producing that unit of beer but selling that unit of beer
does not generate any profit. | ||
producer surplusProducer
surplus is the flip side of consumer surplus. It is defined as the difference
between the price (P) that the consumer pays for the product, and the cost (C)
to the firm of making that product. If P – C > 0, the firm is making money
and generating producer surplus. | ||