|
|
TR: The abbreviation for total revenue, which is the revenue received by a firm for the sale of its output. Total revenue is one of two parts a firm 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. For a perfectly competitive firm, which receives a single unchanging price for all output sold, the calculation is relatively easy. For other real world firms, that charge different prices to different buyers for different quantities, the calculation can be more complex. Total revenue is very important in the analysis a firm's short-run production decision. Two other revenue measures directly related to total cost are average revenue and marginal revenue. Total revenue is often depicting as the total revenue curve. For a perfectly competitive firm, the total revenue curve is a straight line from the origin. For a monopoly, oligopoly, or monopolistically competitive firm, the total revenue curve is "hump-shaped," increasing at a decreasing rate, reaching a peak, then declining.
Visit the GLOSS*arama
|
|
|
|
|
|
|
|
TWO-SECTOR KEYNESIAN MODEL A Keynesian model of the macroeconomy that includes the two private sectors, the household sector and the business sector. This Keynesian model variation, often termed the basic Keynesian model or the private sector Keynesian model, captures the interaction between induced consumption expenditures and autonomous investment expenditures. This model is commonly used to illustrate the basic workings of Keynesian economics, including equilibrium, disequilibrium, and the multiplier. Equilibrium is identified as the intersection between the C + I line and the 45-degree line. Two related variations are the three-sector Keynesian model and the four-sector Keynesian model.
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store looking to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for the happiest person in the room.
Your Complete Scope
This isn't me! What am I?
|
|
|
In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
|
|
|
"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
|
|
NBV
Net Book Value
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
