Now, let's think about what the total revenue will look like at different points along this curve right over here. And actually, let me just make a table right over here.

Total revenue is the total amount of money customers pay for your products. Profit is the total revenue minus the costs. For example, I sell 3000 pounds of oranges for $3 per pound. That …

The top graph with $/unit is all about a single thing. For example, the MC curve shows how much extra revenue you get when you sell one more thing. The bottom graph with $ is about total …

Yes. Try taking a graph or table of price and quantity and multiplying each point to get corresponding total revenue for a given quantity. Now create a graph of TR on the y-axis and …

Total revenue and total costs for the raspberry farm are shown in the graph below; these numbers are further broken down into fixed costs and variable costs in the table that follows the graph.

When you keep producing until MC = MR, you will produce 7,000 gallons of juice. The revenue is 7,000 * 0.4 = 2,800 and the total costs are 3410, so the loss is $610. This loss is lower, so …

Learn about marginal revenue for a monopolist. We find the slope of the total revenue curve to determine marginal revenue at different quantities, and discover that the marginal revenue …

See how to graph these curves and highlights their intersections, which represent minimum points for average costs. Understanding these concepts helps businesses make better decisions …

Using this type of analysis, we can also predict whether a tax is likely to create a large revenue or not. The more elastic the demand curve, the easier it is for consumers to reduce quantity …

This video discusses the differences in a graph of marginal cost and marginal revenue for an imperfectly competitive firm compared to a perfectly competitive firm.