n. (context economics English) The revenue from each item multiplied by the number of items sold
Total revenue is the total receipts of a firm from the sale of some given quantities of a product.
It can be calculated as the selling price of the firm's product times the quantity sold, i.e. total revenue = price × quantity, or letting TR be the total revenue function: TR(Q) = P(Q) × Q
where Q is the quantity of output sold, and P(Q) is the inverse demand function (the demand function solved out for price in terms of quantity demanded).
Usage examples of "total revenue".
In 1999, Iraqi oil smuggling amounted to about $350 million, or roughly 5 percent of its total revenue.
Four times a year they pay you back a commission that they list as foreign expenses, which brings your effective total revenue back up to fifty percent.