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bluelegacygt
Jul 5, 2007, 12:13 PM
i have an equation and i am not sure what some of the abreviations stand for. The equation is Profit = (P–AVC) Q–FC. i know P- is profit, Q- is quanity, and FC- is fixed cost but what is AVC? is it Additional voluntary contribution?

Can someone please let me know?
Hermansherman
Jul 5, 2007, 12:32 PM
i have an equation and i am not sure what some of the abreviations stand for. The equation is Profit = (P–AVC) Q–FC. i know P- is profit, Q- is quanity, and FC- is fixed cost but what is AVC? is it Additional voluntary contribution?

Can someone please let me know?




Profit = (Price - Average variable cost) * quantity - fixed cost