the revenue per unit of one commodity sold is called as______
(a) total revenue
(b) marginal revenue
(c) average revenue
(d) none of the above
Answers
Answer:
Explanation:
(b)
since marginal revenu is the total amount of mony that is paied for a unit commodity
i.e marginalrevenu = totalincome by selling the commedity - the total capital paied for the commedity to prepare.
Answer:
The revenue per unit of one commodity sold is called as Average revenue.
Therefore, the answer to this question is option (c) averege revenue.
Explanation:
The amount made per unit of output is referred to as average revenue. In other words, it is the money the seller makes from each commodity unit that is sold.
Divide the entire revenue by the total output to get the average revenue for a company.
If a vendor sells two units of the same product at the same price, the average revenue is comparable to the price. However, if the two products are offered at two different prices, the average revenue fluctuates. Because a company's profit is determined by deducting its average revenue from its average cost, average revenue can be used to estimate a company's profit.
The correlation between average revenue and the volume of items produced is determined by market structure. The average revenue in a firm with perfect competition is the same as the price and the marginal revenue.However, average revenue is always greater than marginal revenue in monopolistic or oligopolistic enterprises.
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