Match the different methods used for calculating revenue and profit to the formulas used for calculating them. A. total revenue
B. average revenue
C. marginal revenue
D. gross profit
E. net profit

1. total revenue / quantities sold
2. total sales – cost of goods sold
3. price of a product x quantities sold
4. total revenue – total cost
5. change in revenue / change in quantity sold

What are the general categories of capital budget scenarios? describe the overall decision-making context for each.

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.

The demand curve determines equilibrium price in a market. is a graphical representation of the relationship between price and quantity demanded. depicts the relationship between production costs and output. is a graphical representation of the relationship between price and quantity supplied.