total average and marginal revenue

Question 1

what is business revenue

Answer 1

money following into a business over a given time period from selling goods and services in markets- its also known as turnover or sales or income.

Question 2

what is total revenue

Answer 2

Total revenue is the total amount of money a company brings in from selling its goods and services.

Question 3

what is the calculation for total revenue

Answer 3

price per unit x quantity (P x Q)
or
average revenue x output (AR x Q)

Question 4

what is average revenue

Answer 4

Average revenue is referred to as the revenue that is earned per unit of output. In other words, it is the revenue that is obtained by the seller on selling each unit of the commodity.

Question 5

what is the calculation for average revenue

Answer 5

average revenue= total revenue/output or quantity

Question 6

an example of average revenue

Answer 6

Average revenue is revenue per product. For example, if your firm’s total revenue is $200, and you are selling 100 products, then your average revenue is $200 divided by 100, or $2.

Question 7

how can you spot average revenue on a graph

Answer 7

average revenue is the same as the demand curve

Question 8

what is marginal revenue

Answer 8

marginal revenue is the change in total revenue from selling one extra unit of output in a market

Question 9

what is the calculation for marginal revenue

Answer 9

marginal revenue = change in total revenue/change in output

Question 10

how would you calculate average revenue from a table of data

Answer 10

in a table
take away the last total revenue value from the one you want to calculate(take away the one above from the one below) do the same for quantity-demand-