Revenue 3.3.2
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Last updated 10:04 AM on 6/12/25
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4 Terms
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What is revenue?
The income generated from the sale of goods and services in a market
2
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What is the equation of Average revenue?
AR = total revenue / output
3
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What is marginal revenue?
The change in revenue from selling one extra unit of output
4
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How to calculate the Total revenue?
TR = price per unit x quantity
or
TR = AR x Q
Note 
Flashcards (57)