--%>
Assignment Help - homework help

Total, average, marginal and incremental revenue concept

Explain the meaning of total, average, marginal and incremental revenue.

E

Expert

Verified

Total revenue implies the product of commodity price to the total quantity of outputs produced within a current business period. As well as average revenue is acquired by dividing the total revenue along with number of units sold. And also marginal revenue is the additional revenue to total revenue while an additional unit is generated.

   Related Questions in Managerial Economics

  • Q : Managerial slack and x-inefficiency A

    A firm along with extreme managerial slack (i.e., X-inefficiency) can best survive when, it: (1) maximizes its economic profits. (2) spends large amounts on marketing and advertising. (3) has important market power and faces little potential competiti

    		•
  • Q : Average Variable Cost Profit

    A purely competitive firm which hires more workers while the value of the marginal product of labor increases above the competitively set wage rate will absolutely experience increases in its: (i) overhead costs. (ii) profit per unit.

    		•
  • Q : Explain Exceptional Demand Curve

    Explain Exceptional Demand Curve.

    		•
  • Q : Factors governing prices and pricing

    Illustrates the factors governing prices and pricing decision in briefly?

    		•
  • Q : Illustrates the Forward Planning in

    Does managerial economic as a tool for Forward Planning? Explain this term briefly.

    		•
  • Q : Explain the term average fixed cost

    Explain the term average fixed cost.

    		•
  • Q : Differentiate between individual and

    Differentiate between individual demand schedule and Market demand schedule in law of demand?

    		•
  • Q : Equal pay for equal work rule Rigid

    Rigid enforcement of “equal-pay-for-equal-work” law would: (w) raise the wage of minority workers who had been discriminated against. (x) lower the wages of “favored” non minority workers who had received higher wages before. (

    		•
  • Q : Increases in demand for a resource The

    The demand for a resource would increase while the: (w) price of which resource decreases. (x) price of a substitute resource decreases. (y) consumer demand for products decreases. (z) price of a complementary resource decreases.

    		•
  • Q : Huge parts of the enormous incomes

    Huge parts of the enormous incomes earned through some gifted athletes and performers are pure economic: (w) wages. (x) profits. (y) interest. (z) rents. Hello guys I want your advice. Please recom

    		•