Describe the term Incremental Revenue in details
Describe the term Incremental Revenue in details.
Expert
This revenue simply refers to rise in revenue. This is the difference among the new total revenue and existing total revenue. This measures the impact of decision alternatives upon the total revenue. There formula for measuring incremental revenue is as given below:
IR = R2-R1
Here, IR = Incremental revenue
R2 = New total revenue and
R1 = Old or existing total revenue.
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The demand for labor is less elastic when: (w) resource substitution is easy. (x) output demand is relatively inelastic. (y) wages are a huge percentage of total cost. (z) firms have more time to adjust to wage changes. Discover Q & A Leading Solution Library Avail More Than 1434758 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1921859 Asked 3,689 Active Tutors 1434758 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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