Wikipedia (reference below) defines total revenue as the total receipts of a firm from the sale of some given quantities of a product.
Wikipedia goes on to say:
“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) x 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).”
Atlas topic, subject, and course
Wikipedia, Total revenue, at https://en.wikipedia.org/wiki/Total_revenue, accessed 7 May 2016.
Page created by: Ian Clark, last modified 7 May 2016.