Total Revenue History Definition
Total revenue price x number of units sold.
Total revenue history definition. Total revenue definition total revenue is the amount of money that a company earns by selling its goods and or services during a period of time e g. Total sales and other revenue for the period shown. If the hot dogs are sold at 4 00 each the total revenue would equal 40 10 x 40. It is the total income of a business and is calculated by multiplying the quantity of.
Each extra unit of output sold marginal revenue adds exactly the same amount to total revenue as previous units. 10 9 8 7 6 5 4 3 2 1 0 1 2 3 4 5 6 7. Information and translations of total revenue in the most comprehensive dictionary definitions resource on the web. Total revenue in economics refers to the total receipts from sales of a given quantity of goods or services.
Meaning of total revenue. It is also referred to as the total sales. Definition of total revenue. Total revenue is the total amount of revenue coming from all operational departments in a business.
It can be written as p q which is the price of the goods multiplied by the quantity of the sold goods. Total revenue equals the number of items of a good or service sold multiplied by the price of the good or service. Under conditions of perfect competition the firm faces a horizontal demand curve at the going market price. A day or a week.
A survey produced quarterly by the census bureau that provides estimates of total operating revenue and percentage of revenue by customer class for communication key. Total revenue is the total receipts a seller can obtain from selling goods or services to buyers. Total revenue the aggregate revenue obtained by a firm from the sale of a particular quantity of output equal to price times quantity. In general microeconomic theory assumes that firms attempt to maximize the difference between total revenues and economic costs.
A perfectly competitive firm faces a demand curve that is infinitely.