Three measures of revenue
Three measures of revenue
Total revenue is the firm's total income from sales. If price is PPP and quantity sold is QQQ, then TR=P×QTR = P \times QTR=P×Q.
Step-by-step lessons on Edexcel A A Level Economics 3.3.1 Revenue. Each one builds up to exam-style questions. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.