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TOTAL REVENUE, MONOPOLY: The revenue received by a monopoly firm for the sale of its output. Total revenue is one of two parts a monopoly needs for the calculation of economic profit, the other is total cost. In general, total revenue is the price received for selling a good times the quantity of the good sold at that price. Because a monopoly completely controls its market and faces a negatively-sloped demand curve, it charges a different price for a given quantity. If a monopoly sells a relatively small quantity, it charges a relatively high price. If it sells a relatively smaller quantity, it charges a relatively lower price. However, once the monopoly determines its' price/quantity combination, total revenue calculation is relatively straightforward, multiply the price times the quantity.
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SAVING SCHEDULE A table or chart that represents the relation between saving by the household sector and income. A saving schedule is commonly used for a basic, instructional presentation of aggregate saving activity by the household sector and is also used as a source of numbers for deriving the saving line. The key measures derived from the saving-income relation in the schedule are average propensity to save and marginal propensity to save. The consumption schedule is comparable, and more important, table for the relation between consumption and income.
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Al Capone's business card said he was a used furniture dealer.
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"Difficulties mastered are opportunities won. " -- Winston Churchill, Statesman
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ALAC
Latin American Free Trade Area
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