How do I calculate total revenue profit?How do I calculate total revenue profit? https://freebusinessbrokers.com.au/wp-content/themes/bb_broker/images/empty/thumbnail.jpg 150 150 Business Brokers https://secure.gravatar.com/avatar/8057d28b759d71ab92de886cbc48094f?s=96&r=g
Economics – profit and revenue
- Total revenue (TR): This is the total income a firm receives. This will equal price × quantity.
- Average revenue (AR) = TR / Q.
- Marginal revenue (MR) = the extra revenue gained from selling an extra unit of a good.
- Profit = Total revenue (TR) – total costs (TC) or (AR – AC) × Q.