0
What else can I help you with?
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 to find the total revenue in economics?
To find the total revenue in economics, multiply the price of a product by the quantity sold. Total revenue Price x Quantity.
How can one calculate the total revenue in economics"?
To calculate total revenue in economics, multiply the price of a product by the quantity sold. Total revenue Price x Quantity.
How do you get the total revenue?
Total sales - Cost of goods sold = Revenue
How do you calculate profit when quantity is added?
To calculate profit when quantity is added, you need to subtract the total cost of producing the additional quantity from the revenue generated by selling that quantity. The profit formula is: Profit = Total Revenue - Total Cost. Determine the additional revenue and additional cost associated with the added quantity to calculate the profit accurately.
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 to find the total revenue in economics?
To find the total revenue in economics, multiply the price of a product by the quantity sold. Total revenue Price x Quantity.
How can one calculate the total revenue in economics"?
To calculate total revenue in economics, multiply the price of a product by the quantity sold. Total revenue Price x Quantity.
How can one calculate marginal revenue from a table of data?
To calculate marginal revenue from a table of data, you can find the change in total revenue when the quantity sold increases by one unit. This can be done by comparing the total revenue for two different quantities and dividing the change in total revenue by the change in quantity. The resulting value is the marginal revenue for that specific quantity.
How can one determine marginal revenue from total revenue?
To determine marginal revenue from total revenue, you can calculate the change in total revenue when one additional unit is sold. This can be done by finding the derivative of the total revenue function with respect to the quantity of units sold. The resulting value will give you the marginal revenue at a specific quantity level.
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 fixed cost when you only have quantity and total cost?
Find total cost when quantity = 0.
