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What does marginal revenue product MRP refer to?
Very little
What is the distinction between marginal revenue product and marginal revenue?
I'm thinking that marginal revenue product is the marginal revenue on one product, and marginal revenue is the marginal revenue on the whole firm sales... I'm wondering the same thing but the above response is incorrect. both terms imply values on one item as indicated by the "marginal"
What is the Concept of revenue?
Average revenue (AR): total revenue per unit of a product sold; Total revenue (TR): total number of dollars received by a firm or firm from the sale of a product; Marginal revenue (MR):additional revenue received result from the sale of an extra unit of product; Under perfect competition P=AR=MR and the firm's demand curve is flat.
What is the additional revenue that accrues to a firm when an additional worker is hired?
marginal revenue product
When the price of a product rises and the total revenue of sellers increase?
You have an inelastic product.
What does marginal revenue product MRP refer to?
Very little
How do you increase gross profit when sales increase but gross profit does not?
Your mariginal revenue must equal your marginal cost.
Is service revenue an asset or liability?
Services revenue is revenue same as product revenue and it is not an asset or liability of the business.
What is marginal revenue product?
Marginal revenue product is the additional profit a firm gains when it hires an additional worker.
What is the distinction between marginal revenue product and marginal revenue?
I'm thinking that marginal revenue product is the marginal revenue on one product, and marginal revenue is the marginal revenue on the whole firm sales... I'm wondering the same thing but the above response is incorrect. both terms imply values on one item as indicated by the "marginal"
What is the Concept of revenue?
Average revenue (AR): total revenue per unit of a product sold; Total revenue (TR): total number of dollars received by a firm or firm from the sale of a product; Marginal revenue (MR):additional revenue received result from the sale of an extra unit of product; Under perfect competition P=AR=MR and the firm's demand curve is flat.
Is deferred revenue an asset?
Deferred revenue is recognized when cash received in advance for product or service that not delivered or rendered, so it's liability, once service fulfilled or product received Revenue Would be recognized Deferred revenue also Known as unearned revenue
What is the additional revenue that accrues to a firm when an additional worker is hired?
marginal revenue product
When the price of a product rises and the total revenue of sellers increase?
You have an inelastic product.
What is the additional revenue a firm gains when it hires an additional worker called?
Marginal Revenue Product
What is additional revenue a firm gains when it hires an additional worker called?
Marginal Revenue Product
What is the difference between the marginal product of labor and the marginal revenue product of labor?
moarginal product of labor
