Average revenue is the additional revenue of output?
True Or False And Statement Also.
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Answer:
The answer is False.......
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In Microeconomics or Production Economics,Average Revenue refers to the average or mean of the overall or total revenue generated from selling all the units of output by the firm or company within a particular period of time.Hence,the statement given here is false.
Explanation:
Average revenue basically implies the average or mean of the total or overall sales revenue obtained by the firm or company from the sale of a certain level of output in a specific period of time.It is calculated by dividing the total revenue of the firm or company by the total number or units of output sold by the firm/company.The revenue that is obtained from selling an additional or incremental unit of output by the firm or company is called Marginal Revenue and not Average Revenue.
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