Question

Revenue per unit of output sold?

Answer 1

Answer:

Marginal revenue (MR) is the increase in revenue that results from the sale of one additional unit of output. While marginal revenue can remain constant over a certain level of output, it follows from the law of diminishing returns and will eventually slow down as the output level increases.

Answer 2

Concept:

The revenue is the multiplication of price into quantity. It means as the price rises then total revenue rises and as price falls then total revenue falls.

Given:

Revenue per unit of output sold?

To find:

Revenue per unit of output sold is to find out.

Solution:

Average revenue is the per unit revenue that is generated by selling the unit of commodity. It means the average revenue is the ratio of total revenue to the quantity.