Difference between revisions of "Revenue"
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Revenue is the price of a good times the quantity sold. It is a seller's overall income before subtracting costs. | Revenue is the price of a good times the quantity sold. It is a seller's overall income before subtracting costs. | ||
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| + | The graph of the total revenue of a demand curve which is a strait line, with price on the y axis and quantity on the x axis has the shape of a parabola opening downward. It starts at zero revenue, when quantity is zero and ends at zero revenue when price is zero. | ||
[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 15:36, April 4, 2007
Revenue is the price of a good times the quantity sold. It is a seller's overall income before subtracting costs.
The graph of the total revenue of a demand curve which is a strait line, with price on the y axis and quantity on the x axis has the shape of a parabola opening downward. It starts at zero revenue, when quantity is zero and ends at zero revenue when price is zero.