Revenue Concepts Assignment Help

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Revenue Concepts:

Revenue is receipts from the sale of a firm's output. It is earned

immediately a firm sells a given quantity of its output.

Total Revenue (TR)

Total revenue is the total receipts from the sale of a given quantity of a firm's output. It is found by multiplying price (P) by the corresponding quantity (Q) sold by the firm. i.e.

TR = PQ

Average Revenue Marginal Revenue
Price-Taking Firm
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