How To Calculate Total Government Revenue

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How to calculate total government revenue. This is calculated before any discounts are applied. If a boutique priced a blouse at 50 and it sold seven that puts total gross revenue for that product at 350. Calculating total revenue put simply calculating revenue means multiplying the price of each product by the total number of units sold. The last step is to add the totals together to get the total revenue.

Add each tax payment made during the legally defined tax collection period to arrive at total tax revenue. It is the number of a product sold multiplied by the sales amount of that item. Total revenue price x quantity. Where a and b are fixed numbers and p is price while q is quantity demanded.

For instance in 2013 the state of new jersey collected a total of 8 235 billion in sales and use tax revenues which was approximately 30 5 percent of the 27 billion the state government collected from all taxes and fees for the same period. Price is not fixed for this producer known as monopoly producer. 3 750 1 500 625 4 000 750 10 625 total revenue revenue is an important figure to obtain not so much because it s inherently symbolic of your profits but more because it s used to calculate so many other more telling figures. Total revenue 20 x 400 8 000.

Total revenue is 8 000. The sales revenue calculation is very simple. Sales revenue units sold x sales price let s say you are selling sets. Formula how to calculate total revenue.

Khan academy total revenue and elasticity part of a larger course on microeconomics. Units are selling at 20 per unit and 400 sell. Tr price x quantity sold p q a bq q aq bq 2. This video overviews the concept of total revenue.

Ar tr q pq q p a bq. Quantity is the number of units sold.