, REVENUE
It refers to the money earned by a firm by selling its
products.
TOTAL REVENUE
It is the money earned by selling all the units of a
commodity produced.
TR = P X Q
P – Price Q – Quantity
TR = AR X Q
• AR – Average Revenue Q – Quantity Sold.
TR = 𝝨 MR
MR – Marginal Revenue
It refers to the money earned by a firm by selling its
products.
TOTAL REVENUE
It is the money earned by selling all the units of a
commodity produced.
TR = P X Q
P – Price Q – Quantity
TR = AR X Q
• AR – Average Revenue Q – Quantity Sold.
TR = 𝝨 MR
MR – Marginal Revenue
