Describe the term Incremental Revenue in details
Describe the term Incremental Revenue in details.
Expert
This revenue simply refers to rise in revenue. This is the difference among the new total revenue and existing total revenue. This measures the impact of decision alternatives upon the total revenue. There formula for measuring incremental revenue is as given below:
IR = R2-R1
Here, IR = Incremental revenue
R2 = New total revenue and
R1 = Old or existing total revenue.
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Economy-extensive efficiency needs both allocative and technical efficiency within production and: (w) equity within the distribution of national income. (x) biological efficiency, in that people's basic desires should be met. (y) pol
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