Question

Average revenue is obtained when

Answer 1

Answer:

Average revenue of a business is obtained by dividing the total revenue with the total output. The average revenue is similar to the price if a seller sells two units of the same product at the same price. However, the average revenue varies if the two products are sold at two different prices.

Elastic Demand Formula: Marginal Revenue Formula

Inflation Rate Formula: Total Revenue Formula

GDP Deflator Formula: Price Elasticity of Demand Formula

Consumer Price Index Formula: Real GDP Formula