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What is the formula for finding a firm's profit?

Total Profit = Total Revenue minus Total Costs.


What is the marginal revenue formula from the demand function and how does it impact pricing strategies?

The marginal revenue formula from the demand function is the derivative of the total revenue function with respect to quantity. It is calculated by finding the change in total revenue when one additional unit is sold. Marginal revenue helps businesses determine the optimal level of production and pricing strategies by showing how changes in quantity sold affect revenue. It is used to maximize profits by setting prices based on the relationship between marginal revenue and marginal cost.


How can one determine the marginal revenue formula for a business?

To determine the marginal revenue formula for a business, you can calculate the change in total revenue when one additional unit of a product is sold. The formula for marginal revenue is MR TR/Q, where MR is marginal revenue, TR is the change in total revenue, and Q is the change in quantity sold. By analyzing the revenue data and applying this formula, businesses can determine their marginal revenue.


Definition of incremental revenue?

Incremental Revenue is the increase of revenue between a new revenue and a previous revenue, thus the formula: Incremental Revenue = New Revenue - Previous Revenue


What is the formula for finding probabilities?

The formula for finding probability depends on the distribution function.


Is the formula for finding the area of an oval the same as the formula for finding the area of a circle?

No because the formula for finding the area of an oval, which is an ellipse, is quite different


What is the formula to calculate profit?

A simple profit formula reconciles revenue to losses and expenses. Profit equals the total revenue subtracted by losses and expenses.


What is the formula for Net Operating Margin in Excel?

=(total revenue- total expenditures)/revenue. you get a percentage.


What is the formula to get the MR in economics?

Marginal Revenue (MR) = Change in Total Revenue / Change in Q


What is the formula for finding joules?

The formula for finding joules is: Joules = Force x Distance. This formula is used to calculate the amount of energy transferred when a force is applied over a distance.


What is the formula for finding the area of an ellipse?

the formula for finding the area of an ellipse is add it then multiply and subtract that is the final


What is the formula of finding perimeter of a rectangle?

The formula for finding the perimiter of a rectangle is add up all of its sides