Definitions

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House price latest

House prices up by 6.9%.

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Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

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Revenue maximisation

Revenue maximisation is a theoretical objective of a firm which attempt to sell at a price which achieves the greatest sales revenue. This would occur at the point where the extra revenue from selling the last marginal unit (i.e. the marginal revenue, MR, equals zero). If marginal revenue is positive, an extra unit sold must add to total revenue and revenue maximisation will not have been reached. Only when marginal revenue is zero will total revenue have been maximised.

Stopping short of this quantity means that an opportunity for more revenue has been lost, whereas increasing sales beyond this quantity means that MR becomes negative and TR falls. This can be seen in the following graph, with revenue maximisation at output Q, and at point A on the AR curve.

Revenue maximisation graph


Alternative finance

Report on the growth of alternative finance.

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GDP latest

UK grows by 0.3% in 1st quarter of 2017.

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Customs unions

Costs and benefits of customs unions.

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New materials

Multiple choice papers for Paper Three.

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Brexit update

Article 50

What trading options are available to the UK?

Savings ratio

Savings ratio falls to lowest level on record.

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Tax avoidance

Double Irish - and a Dutch Sandwich more..

The OECD presents its final package for reform of international tax rules..more

OECD - reducing income inequality will boost growth..more