Assume that the farm level equivalency for one pound of the retail product (fresh oranges) is 1.176 pounds of the farm commodity (fresh oranges). Fill in total revenue, average revenue, and marginal revenue in the table below.Understand what total revenue is. Learn the definition of total revenue, total revenue formula, total revenue equation, and how to calculate total revenue. Total Revenue (TR) = Price (P) x Quantity (Q). This is going to be a discussion of schedule F profit or loss from farming which is the form that we use to report farming activities. Free entry and exit: New farmers can start growing oranges if they find it profitable, and existing farmers can exit if they incur losses. This publication explains how the federal tax laws apply to farming. Use this publication as a guide to figure your taxes and complete your farm tax return. Blake bought 20 oranges from the farmer's market.