Saved Bookmarks
| 1. |
What is the meaning of Total Revenue? How is it calculated? Explain with example. |
|
Answer» The total sales value received in terms of rupees from the quantity of a product produced sold. The total sales value received by the seller from selling a given amount of the product is called total revenue. The total revenue is equal to the total quantity of the commodity sold multiplied by the price (or average revenue) TR = Q × P. For example, if a firm sells 1,000 units of a product at a rate of Rs. 5, its total revenue will be 1,000 × 5 = Rs. 5000. |
|