explain the relationship between AR , MR , and elasticity of demand with the help of diagram , table and formula
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Relationship between AR, MR and Elasticity of Demand!
It has been discussed that average revenue curve of a firm is the same thing as the demand curve of the consumer for the product of the firm. ... AR is the revenue per unit of output sold. AR is the ratio of TR to total output. Besides, AR is nothing but the price.
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