take the change in the total and divide by the change in the quantity number.
If you want to change selection, open original toplevel document below and click on "Move attachment"
Parent (intermediate) annotation
Open it To calculate a marginal term, take the change in the total and divide by the change in the quantity number.
Original toplevel document
3. ANALYSIS OF REVENUE, COSTS, AND PROFITS calculated with respect to the quantity produced and sold in a single period (as opposed to averaging a quantity over a number of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. <span>To calculate a marginal term, take the change in the total and divide by the change in the quantity number.
Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that
last interval [days]
repetition number in this series
scheduled repetition interval
last repetition or drill
Do you want to join discussion? Click here to log in or create user.