revenue + demand

• Total rev


  The money received from selling your own product

  
  

  PRICE * QUANTITY
• Marginal rev


  The revenue from an additional unit sold

  
  

  ^TR/^Q
• Average rev

  Price of 1 product

  
  

  TR/QS
• Revenue is found below the demand curve
• Law of diminishing marginal productivity

  An increase in one FOP, assuming ceteris paribus (all other FOPS remain unchanged), will eventually derive diminishing marginal productivity of the variable factor.