EGT1 – TASK 1 Western Governors University EGT1 Economics and Global Business Applications Element A1 & A2 A1. Total revenue (TR) to total cost (TC) is cost, which is calculated using total revenue minus the total cost, (TR-TC). As each unit is produced, the total cost increases in addition to the total revenue. Yet, at some point in the production of the additional units, the total revenue will exceed the total cost. When it reaches that point, it becomes a loss.
Words: 1236 - Pages: 5
