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Under S74 SOA 2003, which of the following is NOT included within the definition of consent:
Total Revenue
The total amount of money received by a company for goods sold or services provided during a certain time period.
Average Revenue Product
The increase in total revenue resulting from employing one more unit of a resource, holding all other factors constant.
Substitution Effect
The alteration in the consumption of goods as a result of changes in their relative prices, leading consumers to substitute more expensive items with cheaper alternatives.
Output Effect
The change in total revenue resulting from selling additional units due to a price decrease, in the context of price elasticity of demand.
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