What is TR and TC?

Profit is defined as the difference of total revenue (TR) over total cost (TC) of the firm.

Is TR the same as TC?

TC is the Total Cost Curve and TR is the Total Revenue Curve. Also, P is the equilibrium point where the distance between TR and TC is maximum.

What is the meaning of TR and TC?

Profits are defined as the difference between total revenue (TR) and total cost (TC).

How do you calculate TR from TC?

What happens when TR is equal to TC?

Dear Student, the equality between Total Revenue (TR) and Total Cost (TC) implies that revenues are equal to costs. This means that a firm is just managing to earn the amount of revenue which is just sufficient to cover its costs of production.

Unit 4 - TC and TR graphs

What is the maximum difference between TR & TC?

Difference between TR and TC is maximum when MR=MC. Difference between total revenue and total cost indicates profits. A firm maximizes the profit when marginal revenue is equal to marginal cost.

What is equilibrium with TR and TC?

Total Revenue-Total Cost Approach (TR-TC Approach):

According to TR-TC approach, producer's equilibrium refers to stage of that output level at which the difference between TR and TC is positively maximized and total profits fall as more units of output are produced.

What is the TR formula?

Total Revenue = Price x Quantity

This was all about the topic on Total revenue formula, which plays a vital role in determining the revenue for a business.

What is TR value in HVAC?

A ton of refrigeration (TR) is a unit of heat extraction capacity of the refrigeration or cooling equipment. Generally, TR is defined as the amount of heat transferred to freeze or melt 1 short ton of ice at 0 deg. C in 24 hours. 1 TR is approximately equal to 12000 BTU or 3024 Kcal/hr of energy/heat load.

What is TC formula?

Consequently, total cost is fixed cost (FC) plus variable cost (VC), or TC = FC + VC = Kr+Lw.

What does TR mean in work?

On an income statement, the acronym "TR" signifies "total revenue." A business's total revenue is the combination of all types of income that the business receives during an accounting period.

What does TR mean in electronics?

Tamper-resistant (TR) receptacles were first required within the 2008 edition of the National Electrical Code (NEC).

What is TR at maximum?

When MR is zero, then TR is maximum. Marginal revenue is the rate of Total revenue. Beyond the point when MR=0, the TR starts falling as MR becomes negative beyond this point.

What does TR mean in graphs?

True Range (TR)

What does 1.5 TR mean in AC?

A "ton" refers to the heat capacity of a ton of melting ice over one day. This means that a 1.5 ton air conditioner can remove enough heat which can melt 1.5 tons of ice in a day. So the bigger the room, the more cooling capacity your air conditioner needs to have; hence, more tonnage.

What does TR mean in temperature?

Temperature Retraction Test (TR Test)

How do you convert TR to CFM?

1 TR = 400 cfm is a thumb rule used in this industry. However, it is not a constant and varies with different manufacturers. CFM is cubic feet per minute. TR is tonnage of refrigeration.

How do you calculate TR volume?

Height × width × depth = volume

If the height, width and depth are measured in cm, the answer will be cm³.

How do you find area TR?

Finding area of triangles. To find a triangle's area, use the formula area = 1/2 * base * height. Choose a side to use for the base, and find the height of the triangle from that base. Then, plug in the measurements you have for the base and height into the formula.

What is TR and TC in break even analysis?

Total revenue = price x number of units (TR = P*X). This is also known as the revenue function. Total cost = variable cost x number of units + total fixed cost (TC = VC*X + FC). This is also known as the cost function. At break-even point, TR = TC.

What will be your decision if TR is less than TC?

2. Therefore, a firm will exit if the revenue that it would earn from producing is less than its total costs: Exit if TR < TC.

What does TR value mean?

Related Definitions

TR Value for a Class 1 Share means the greater of (i) the NA Value and (ii) the value of the Common Shares into which such Class 1 Share is convertible immediately prior to the relevant date of determination, plus, in each case, any declared but unpaid dividends owing under Section 3.1.