Revenue

Content
Leaderboard

Created by

Yossy Balogun

Cards (7)

Total Revenue 
Price x Quantity
Average Revenue 
Total Revenue/ Quantity; AR=Price, AR=Demand
Marginal Revenue 
Additional revenue a firm makes from selling one extra unit; Change in TR/ Change in Q
Relationship between MR and TR 
MR is negative- TR decreases with quantity
MR=0- TR doesn’t change
MR is positive- TR increases with quantity
Total Revenue and Elastic Demand 
Increase in price- quantity demanded falls by a larger % so total revenue decreases
Decrease in price- quantity demanded increases by a larger % so total revenue increases
Total Revenue and Inelastic Demand 
Increase in price- increase in total revenue as quantity falls by a larger %
Decrease in price- decrease in total revenue as quantity increases by a smaller %
Revenue Maximisation 
Where MR=0

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Revenue

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3.1.4 Production, costs, revenue, and profit

3.2.1 Costs

3.4.5 Average revenue, total revenue, and profit

1.3.2 Business revenues, costs, and profits

5.3 Revenue, costs, profit and loss

3.2.3 Profits

3.2.3 Profits

3.2.1 Costs

Understanding and calculating revenue, costs, and profit

3.1.4.3 Revenue

3.3.1 Revenue

3.1.4.2 Costs

3.1.4.4 Profit

3.4 Production, costs, and revenue