Card 1 of 21
Total revenue is calculated using [...]\text{[...]}[...].
Average revenue is calculated using AR=TRQAR = \dfrac{TR}{Q}AR=QTR.
Marginal revenue is calculated using MR=ΔTRΔQMR = \dfrac{\Delta TR}{\Delta Q}MR=ΔQΔTR.
A
TR=P×QTR = P \times QTR=P×Q
B
TR=P+QTR = P + QTR=P+Q
C
TR=PQTR = \dfrac{P}{Q}TR=QP
D
TR=ΔTRΔQTR = \dfrac{\Delta TR}{\Delta Q}TR=ΔQΔTR
Card 1 of 21
3.3.1 Revenue Flashcards
21 flashcards on Edexcel A A Level Economics 3.3.1 Revenue: the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3.