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Total Revenue = Price time Quantity or TR=PxQ.
For example:
1 gallon of water = $10 TR=$10 (1 x 10)
2 gallons of water = $9 TR=$19 (2 x 9)
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∙ 12y ago
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How do you get the total revenue?
Total sales - Cost of goods sold = Revenue
What is total revenue?
quantity sold x cost of product
What is the formula to find the marginal cost?
Marginal Cost = Marginal Revenue, or the derivative of the Total Revenue, which is price x quantity.
Total revenue and total cost curves?
total cost= total revenue, it is the same thing in different name.
How does total cost relate to total in the market total cost relate to the production output?
In a perfectly competitive market, all n firms are equal. Thus, the market total cost is the total cost (TC) of one firm multiplied by the amount of n firms in the market Total Market Cost = n(TC) Total cost relates to output because firms want to make a profit. Profit = TR - TC where TR = total cost and TR = total revenue. Firms produce at the quantity which MR (marginal revenue) = MC (marginal cost). At this quantity, multiply it by n number of firms in the market to achieve the total output in a market.
How do you get the total revenue?
Total sales - Cost of goods sold = Revenue
What is total revenue?
quantity sold x cost of product
What is the formula to find the marginal cost?
Marginal Cost = Marginal Revenue, or the derivative of the Total Revenue, which is price x quantity.
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.
Total revenue and total cost curves?
total cost= total revenue, it is the same thing in different name.
How does total cost relate to total in the market total cost relate to the production output?
In a perfectly competitive market, all n firms are equal. Thus, the market total cost is the total cost (TC) of one firm multiplied by the amount of n firms in the market Total Market Cost = n(TC) Total cost relates to output because firms want to make a profit. Profit = TR - TC where TR = total cost and TR = total revenue. Firms produce at the quantity which MR (marginal revenue) = MC (marginal cost). At this quantity, multiply it by n number of firms in the market to achieve the total output in a market.
How do you calculate Total revenue variance?
total revenue variance = actual revenue - standard revenue Total revenue variance (AQ x AP) - (SQ x SP) where AQ is actual quantity (units of service sold), AP is actual price (actually recorded as revenue), SQ is standard quantity, and SP is standard price
How do you calculate fixed cost when you only have quantity and total cost?
Find total cost when quantity = 0.
If you have total cost and total benefit how do you get marginal cost and marginal benefit?
Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity
How do you calculate marginal revenue cost by math and graphically and marginal in general?
Profit=Total revenue - Total cost
Profit maximization using Total revenue and Total cost approach?
level of output to look at the total revenue and total cost curve directly
Why total revenue equal to total cost?
No total revenue is total finance in, you need to take from this the running costs of the business to get the gross profit (net sales minus the cost of goods and services sold).
