Revenue Definitions

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  • Created by: kira
  • Created on: 02-10-12 20:19

Price (P) is the money cost to the consumer of a good or service sold by the producer. 

Quantity (Q) is the quantity of goods or services produced by the producer and brought by the consumer.

Revenue (R) is income earned by firms. It is the money that comes in to the firm from selling the goods it produces or the services that it provides. 

Total Revenue (TR) is calculated by multiplying

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