Average revenue equal ____
A.Tr divided by the quantity produce B. Price C.both (a) & (b)
D.none of the above
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Answer:
A) Tr divided by the quantity produce
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In Microeconomics,Average Revenue(AR) is calculated by dividing the total revenue(TR) by the total number of quantity of output produced by a firm or company at a specific time period.Hence,the correct answer here is option A. or Tr divided by the quantity produce.
Explanation:
The AR basically represents the average or mean sales revenue generated by any production firm or manufacturing company in a particular period of time.It is mathematically estimated by dividing the TR generated by any firm or company by selling a certain amount or quantity of output in a specific time period by the overall or total quantity or amount of output produced by the firm or company within the same time frame.
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