what is revenue ? explain the realtion
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Revenue is total receipts generated from selling a particular number of units of a good by a firm. Relationship between MR and AR : (i) When MR is greater than AR then AR increases. (ii) When MR is equal to AR then both the curves coincide with each other and are parallel to x-axis.
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Answer:
Revenue is total receipts generated from selling a particular number of units of a good by a firm. Relationship between MR and AR :
(i) When MR is greater than AR then AR increases.
(ii) When MR is equal to AR then both the curves coincide with each other and are parallel to x-axis.
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