Because a competitive firm's marginal revenue is equal to the market price, the competitive firm's demand curve, which is just a horizontal line at the market price, is also the firm's marginal revenue curve.ecause a competitive firm's marginal revenue is equal to the market price, the competitive firm's demand curve, which is just a horizontal line at the market price, is also the firm's marginal revenue curve.
MMBTU â One million British Thermal Units or BTUs. Natural gas is generally bought and sold in MMBTUs and future prices are generally quoted in this unit of measure. Therm â 1 Therm = 100,000 BTUs. SCF â Standard Cubic Foot is one cubic foot of gas at standard temperature and pressure (60 degrees F and sea level).
How gross margin is used in sales. Retailers can measure their profit by using two basic methods, markup and margin, both of which give a description of the gross profit. The markup expresses profit as a percentage of the retailer's cost for the product. The margin expresses profit as a percentage of the retailer's sales price for the product. These two methods give different percentages as results, but both percentages are valid descriptions of the retailer's profit.