Profit=Total revenue - Total cost
Marginal revenue is the change in total revenue over the change in output or productivity.
A wild guess is that it is negative.
Yes. This is because when MR is at 0, TR is at is maximum. Generally firms produce at MR=MC, therefore if MR < 0, then MC > MR and firms will not produce at the this point. And so when MR = 0, this will be the total level of revenue achieved, and so total revenue remains unchanged
Total Room Revenue in a Given Period, Net of Discounts, Sales Tax, and Meals---------------------------------------------# of Available Rooms in Same Period
It's mainly used in physics, engineering, statistics, economics, etc. The main physics example is this: Assuming that s is distance, v is velocity, and a is acceleration, the following is true: s(t)=v'(t)=a''(t) (where t is time)
To calculate marginal revenue from a table of data, you can find the change in total revenue when the quantity sold increases by one unit. This can be done by comparing the total revenue for two different quantities and dividing the change in total revenue by the change in quantity. The resulting value is the marginal revenue for that specific quantity.
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.
To determine the marginal revenue from marginal cost in a business setting, one can calculate the change in revenue from selling one additional unit of a product and compare it to the change in cost from producing that additional unit. If the marginal revenue is greater than the marginal cost, it is profitable to produce more units.
To calculate marginal revenue, you can find the change in total revenue when one additional unit is sold. This can be done by taking the derivative of the total revenue function. By analyzing the marginal revenue, businesses can make decisions to optimize profit margins by determining the ideal pricing and production levels.
To calculate marginal revenue in economics, you subtract the total revenue from selling one additional unit of a product from the total revenue of selling the current quantity of products. This helps businesses understand how much extra revenue they earn by selling one more unit.
To plot marginal revenue on a graph effectively, you can calculate the change in total revenue when producing one additional unit of a good or service. Then, plot these marginal revenue values on the graph against the quantity of goods or services produced. This will show how marginal revenue changes as production levels increase.
To determine marginal revenue from total revenue, you can calculate the change in total revenue when one additional unit is sold. This can be done by finding the derivative of the total revenue function with respect to the quantity of units sold. The resulting value will give you the marginal revenue at a specific quantity level.
To calculate marginal revenue from a demand curve, you can find the slope of the demand curve at a specific quantity using calculus or by taking the first derivative of the demand function. The marginal revenue is then equal to the price at that quantity minus the slope of the demand curve multiplied by the quantity.
To determine the marginal revenue for a business, you can calculate the change in total revenue when one additional unit of a product is sold. This can be done by finding the derivative of the revenue function with respect to the quantity of products sold. The marginal revenue is the additional revenue generated from selling one more unit of a product.
To find marginal revenue in a business setting, you can calculate the change in total revenue when one additional unit of a product is sold. This can be done by subtracting the total revenue before selling the additional unit from the total revenue after selling it. Marginal revenue helps businesses make decisions on pricing and production levels.
I'm thinking that marginal revenue product is the marginal revenue on one product, and marginal revenue is the marginal revenue on the whole firm sales... I'm wondering the same thing but the above response is incorrect. both terms imply values on one item as indicated by the "marginal"
price = marginal revenue. marginal revenue > average revenue. price > marginal cost. total revenue > marginal co