Revenue 3.3.2

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4 Terms

1
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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