ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Total Revenue
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Elastic
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Inelastic
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Unit Elastic
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Detailed explanation-1: -Revenue is the total amount of income generated by the sale of goods or services related to the company’s primary operations. Revenue, also known as gross sales, is often referred to as the “top line” because it sits at the top of the income statement. Income, or net income, is a company’s total earnings or profit.
Detailed explanation-2: -Revenue is the money a company earns from the sale of its products and services.
Detailed explanation-3: -Total sales revenue, also known as gross sales, is the combined value of goods and services a business delivers to its customers during a specific reporting period.
Detailed explanation-4: -Key Takeaways Revenue is the entire income a company generates from its core operations before any expenses are subtracted from the calculation. Sales are the proceeds a company generates from selling goods or services to its customers.
Detailed explanation-5: -Total Revenue = Quantity Sold x Price of the Product. $100, 000 (Total Revenue) = x (Quantity Sold) x $40 (Price) $100, 000/$40 = 2, 500. 29-Apr-2022