Distinguish between total revenue average revenue and marginal revenue
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Total revenue - - Revenue earned from all sources called total revenue.
Average revenue - - Revenue earned on per day.. Called average revenue.
Marginal revenue - - Change in total revenue is called marginal revenue.
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Average revenue - - Revenue earned on per day.. Called average revenue.
Marginal revenue - - Change in total revenue is called marginal revenue.
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Heya user ✨✨
⏩Total Revenue: TR refers to money receipt of a form from the sale of its total output .
⏩Average Revenue: AR is the revenue per unit of the output .
⏩ Marginal Revenue: MR is the change in total revenue on account of the sale of an additional unit of output .
⏩Total Revenue: TR refers to money receipt of a form from the sale of its total output .
⏩Average Revenue: AR is the revenue per unit of the output .
⏩ Marginal Revenue: MR is the change in total revenue on account of the sale of an additional unit of output .
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