Question

5. Average revenue AR =
Your answer​

Answer 1

Average revenue of a business is obtained by dividing the total revenue with the total output. Average revenue is the same as the price as when a seller is selling two units of the same product at the same price, but if the two products are sold at two different prices, then the average revenue will be different.

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Answer 2

AR = TR / Q

(Where AR = Average Revenue, TR = Total revenue, Q = Output)

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