ENTREPRENEURIAL PLANNING
FINANCIAL PLANNING AND ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is the formula for total revenue?
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Selling price x quantity sold
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selling price x variable costs
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total variable costs + total fixed costs
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quantity sold x contribution per unit
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Explanation:
Detailed explanation-1: -Hence, the total revenue refers to the amount of money realized by a firm on the sale of a commodity. Total revenue is expressed as follows: TR = P x Q …
Detailed explanation-2: -Total revenue in economics refers to the total receipts from sales of a given quantity of goods or services. It is the total income of a business and is calculated by multiplying the quantity of goods sold by the price of the goods.
Detailed explanation-3: -To calculate the average selling price of a product, divide the total revenue earned from the product or service and divide it by the number of products or services sold.
There is 1 question to complete.