What do you mean by Average Revenue? How is it calculated? Explain with example.
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Explanation:
The first term is average revenue (AR), which refers to the revenue per unit of output sold. It is obtained by dividing the total revenue by the number of units sold. The second term is marginal revenue (MR), which is the additional revenue generated from the sale of an additional unit of output.
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it is mainly calculated as an average revenue was transferred from Food Corporation to the fair price shop..
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