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A way of roughly determining theprice elasticityofdemandfor acompany'sproduct, by evaluatingchangesin companyincomethat arise from price changes. If demand isdeemedelastic, the company will be cautious about raisingprices, while relativelyinelastic demandgives a company greater pricingflexibility.
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Differentiate average revenue and marginal revenue?
Average Revenue: Total revenue divided by the number of units sold. Marginal Revenue: Is the extra revenue that an additional unit of product will bring. It is the additional income from selling one more unit of a good; sometimes equal to price. It can also be described as the change in total revenue ÷ the change in the number of units sold. Relationship: They both are the revenue brought in by, in this case, units sold. They are both used to calculate the total revenue just that marginal is any exrta revenue that the average revenue has left over.
Total revenue and total cost curves?
total cost= total revenue, it is the same thing in different name.
What is The Total Revenue Rule?
if a price cut decreases total revenue, demand is elastic. if a price cut decreases total revenue, demand is inelastic. if a price cut leaves total revenue unchanged, demand is unit elastic.
How do you get the total revenue?
Total sales - Cost of goods sold = Revenue
Profit maximization using Total revenue and Total cost approach?
level of output to look at the total revenue and total cost curve directly
How do you calculate total revenue?
To calculate total revenue you simply multiply the quantity by the price. Total revenue includes expenses; therefore, total revenue isn't the same as profit.
How do you calculate total room revenue?
how do calculate total of rooms revenue
Differentiate average revenue and marginal revenue?
Average Revenue: Total revenue divided by the number of units sold. Marginal Revenue: Is the extra revenue that an additional unit of product will bring. It is the additional income from selling one more unit of a good; sometimes equal to price. It can also be described as the change in total revenue ÷ the change in the number of units sold. Relationship: They both are the revenue brought in by, in this case, units sold. They are both used to calculate the total revenue just that marginal is any exrta revenue that the average revenue has left over.
Total revenue and total cost curves?
total cost= total revenue, it is the same thing in different name.
How do i calculate percent profit?
The answer will depend on profits as a percentage of what! As a percentage of revenue, it would be 100*(Total Revenue - Total Costs)/Total Revenue In example (as given in discussion page) Total Revenue = 236,000 Total Costs = 173,000 Total Profit = Total Revenue - Total Costs = 63,000 So percentage profit = 100*63,000/236,000 = 26.7% (approx).
How do you you calculate total revenue percentage?
You can calculate the total revenue percentage by substituting the variable X for the monthly revenue, the variable Y for the period of time, and then multiple these to solve for the total revenue percentage.
What is The Total Revenue Rule?
if a price cut decreases total revenue, demand is elastic. if a price cut decreases total revenue, demand is inelastic. if a price cut leaves total revenue unchanged, demand is unit elastic.
What is McDonalds total annual revenue in the millions for 2008?
Its total revenue was $15.4 billion in 2002
How do you get the total revenue?
Total sales - Cost of goods sold = Revenue
What is the formula for Net Operating Margin in Excel?
=(total revenue- total expenditures)/revenue. you get a percentage.
Are total sales and total revenue the same thing?
Total sales and total revenue are slightly different. Revenue is any type of money or income that is coming into the company, which may not always be a form of sales. Sometimes a company or business may receive revenue from investments, which is different from when it is selling an item. Sales are a part of a company's total revenue.
What is the formula for Total Revenue and Total Cost?
Total revenue equals the sale price of products multiplued by the total amount of units sold
