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Earn +20 ptsQ: What is total revenue variance?
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What is adverse variance?
A non favourable variance Eg: adverse revenue means the company earned less revenue than expected.
What is error variance?
Is the result of unsystematic differences among participants; that portion of the total variance in a set of data that remains unaccounted for a systematic variance is removed; variance that is unrelated to the variables under investigation in a study.
How is total revenue calculated?
Total revenue is calculated by multiplying the price of the product sold by the quantity sold. PQ = R. Total profit is total revenue minus costs incurred. R-C = P
What is marginal revenue?
Marginal revenue is the change in total revenue over the change in output or productivity.
How do you calculate marginal revenue cost by math and graphically and marginal in general?
Profit=Total revenue - Total cost
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