|
TOTAL REVENUE, MONOPOLY: The revenue received by a monopoly firm for the sale of its output. Total revenue is one of two parts a monopoly needs for the calculation of economic profit, the other is total cost. In general, total revenue is the price received for selling a good times the quantity of the good sold at that price. Because a monopoly completely controls its market and faces a negatively-sloped demand curve, it charges a different price for a given quantity. If a monopoly sells a relatively small quantity, it charges a relatively high price. If it sells a relatively smaller quantity, it charges a relatively lower price. However, once the monopoly determines its' price/quantity combination, total revenue calculation is relatively straightforward, multiply the price times the quantity.
Visit the GLOSS*arama
|
|

|
|
Lesson 20: Oligopoly | Unit 1: Intro
|
Page: 3 of 24
|
Topic:
Real World Oligopoly
|
|
|
- Real world markets are heavily populated by oligopoly.
- A few of the more important oligopoly markets are:
- Automobiles
- Computers
- Petroleum
- Tires
- Banking
- Long Distance
- Television
- Airlines
|
|
|
|
|
|
PRODUCER SURPLUS The revenue that producers obtain from a good over and above the price paid. This is the difference between the minimum supply price that sellers are willing to accept and the price that they actually receive. A related notion from the demand side of the market is consumer surplus.
Complete Entry | Visit the WEB*pedia |


|
|
GREEN LOGIGUIN [What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for letters from the Internal Revenue Service. Your Complete Scope
This isn't me! What am I?
|
|
The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
|
|
"Be kind and merciful. Let no one ever come to you without coming away better and happier." -- Mother Teresa of Calcutta, humanitarian
|
|
AMEX American Stock Exchange
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|