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Average revenue is nothing but the price of the product. Average revenue is the same as price of the commodity
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∙ 11y ago
Anonymous
Price ×quantity
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How to use the concept of price elasticity of demand to maximize revenue?
Price elasticity of demand is a way to determine marginal revenue. Optimal revenue and, more importantly, optimal profit will occur to the point when marginal revenue = marginal cost, or the price elasticity of demand < 1.
Why is the concept of price elasticity of demand potentially very uesful to a businss?
It can be used to calculate quantity sold to optimise profit, since the price elasticity of demand, multiplied by revenue, describes the total change in revenue (MR) per unit sold.
What is realisation concept in financial accounting?
Realization concept is also known as Revenue recognition concept. Under this concept revenue is said to be recognized by the seller when it is earned irrespective of cash received or not.
How does a monopolistically competitive firm determine its profit-maximizing price?
price = marginal revenue. marginal revenue > average revenue. price > marginal cost. total revenue > marginal co
When the price of a good will cause total revenue to fall if price elasticity of demand is elastic or inelastic?
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
How to use the concept of price elasticity of demand to maximize revenue?
Price elasticity of demand is a way to determine marginal revenue. Optimal revenue and, more importantly, optimal profit will occur to the point when marginal revenue = marginal cost, or the price elasticity of demand < 1.
Why is the concept of price elasticity of demand potentially very uesful to a businss?
It can be used to calculate quantity sold to optimise profit, since the price elasticity of demand, multiplied by revenue, describes the total change in revenue (MR) per unit sold.
What is realisation concept in financial accounting?
Realization concept is also known as Revenue recognition concept. Under this concept revenue is said to be recognized by the seller when it is earned irrespective of cash received or not.
How does a monopolistically competitive firm determine its profit-maximizing price?
price = marginal revenue. marginal revenue > average revenue. price > marginal cost. total revenue > marginal co
The revenue recognition concept?
The revenue recognition concept is commonly used in accrual form of accounting. This indicates revenue should only be recorded when and entity is completed to a substantial level.
When the price of a good will cause total revenue to fall if price elasticity of demand is elastic or inelastic?
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
Where is lake maricibo?
with example explain the concept of of elasticity of supply and interpretating the result graphical and descuse the relationship between price elasticity and suppliers total revenue
Recording revenue when a sale is made most directly relates to which concept?
Matching concept
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.
Demonstrate the Relationship between elasticity and totoal revenue?
how government use the elasticity concept to genrate revenue
What is associate with the accrual concept of accounting?
Revenue is recognised when earned.
Is associated with the accrual concept of accounting?
Revenue is recognised when earned.
