How do you get Total Revenue?
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We get total revenue by using the formula: TR= Quantity × Price
What is Total Revenue?
- Total revenue is the total cost of selling goods and services at a particular cost
- It is very important for the business to earn profit
- It calculates to increase the revenue of goods and services
- When the price and quantity of product change then total revenue also changed
- With the help of total revenue, we know about the demand and price of any product
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