define average income? Give three examples where an average is used to comparing the situation
Answers
Answer:
we find out average revenue of form by dividing total revenue to sell its means....
average revenue = total revenue ÷ total sales
AR = TR ÷ Q in which AR = average revenue.
in which TR = total revenue.
in which Q = quantity sold.
Explanation :
latest understand with example of one form head sold from 1,000 unit of pain in total revenue of rupees 50,000 according to formula 50,000 ÷ 1,000 = 50 is average revenue.
it means revenue per unit of pen.
normally , form sells all unit of commodity at same price , than average revenue is equal to price.
if price and average revenue are equal then for producer it is demand curve which is also average revenue curve for him.
[ demand curve shows on different price how many commodities consumer is ready to purchase.]
on the other hand the average revenue cost shows the average revenue of a producer with the shell of commodity.
in short we remember that average revenue by angle of producer is also price of consumer angle.
answer is complete