Notes about Revenue (1/12-1/13)
- Total Revenue - total amount of $ a firm receives from selling goods & services;
- TR = P * Q
- Remember to add a $ to the answer
- Marginal Revenue - additional income from selling of additional unit of a good
- Final TR - Initial TR = MR
- Fixed Cost - a cost that does not changed no matter how much of a good is produced
- Ex - salary, rent
- Variable Cost - a cost that rises and falls depending upon how much is produced
- Marginal Cost/Output
- new Total Cost - old Total Cost
More Revenue Calculations
Total Fixed Cost - TFCTotal Variable Cost - TVC
Total Cost - TC
Average Fixed Cost - AFC
Average Variable Cost - AVC
Average Total Cost - ATC
TFC + TVC = TC
AFC + AVC = ATC
AFC * Q = TFC
AVC * Q = TVC
TFC / Q = AFC
TVC / Q = AVC
TC / Q ATC
You might want to consider changing the text color of your blog. While it is visually appealing, it can detract from the enriching information your blog has the potential to offer.
ReplyDeleteDuly noted my good sir.
DeleteMax, you did an excellent work with your blog you added extra details and notes like the videos and all the equations for revenue that seem like it would really help me out if I were to use it for studying. It seems like you took a good amount of time personalizing, editing, and organizing all your info in a way that would allow me to find any topic quickly. Some of the issues would be the font color but it isn't anything big as well as the GIF in the back I'm pretty sure its just me but it just captures my attention a lot in a sorts distracting me but either from those two issues great job! keep on the great blog.
ReplyDeleteThank you for your comment, I also agree with your issue and will work to correct them.
DeleteThe format of your "More Revenue Calculations" section is slightly confusing. I have altered it, in the hopes of clarifying for other readers.
ReplyDeleteTotal Fixed Cost - TFC
Total Variable Cost - TVC
Total Cost - TC
Average Fixed Cost - AFC
Average Variable Cost - AVC
Average Total Cost - ATC
TFC + TVC = TC
AFC * Q = TFC
AFC + AVC = ATC
AVC * Q = TVC
TFC / Q = AFC
TVC / Q = AVC
TC / Q ATC
Duly noted. Thank you for feedback.
Delete