examination rooms. Shouldice performs, on average, 150 operations per week, with patients typically staying at the hospital for three days. Although operations are performed only five days a week, the remainder of the hospital is in operation continuously to attend to recovering patients. An operation at Shouldice Hospital is performed by one of the 12 full-time surgeions. Surgeons generally take about one hour to perform each hernia opera tion, and they operate on four patients per day. The surgeonsâ day ends at 4 P.M. The Shouldice Experience Each patient undergoes a screening exam prior to setting a date for his or her operation. Patients in the Toronto area are encouraged to walk in for the diagnosis.
The average revenue is the total revenue divided by the quantity produced. For example, at a quantity of 120, the total revenue is $240. Therefore, the average revenue at this quantity is $240 divided by 120, or $2.ote that if the price is constant, then the average revenue and marginal revenues equal the price. Below is a table of a hypothetical firm, which has a choice of selling quantities ranging from 0 to 130. The product's price is constant at $2. Therefore, average and marginal revenue are $2, as well.
Revenue is the total amount received by a business or recognized as earned when the business sells something, usually services and goods. In modern accountancy, revenue is recorded when it is earned not when the cash is received from customers.