Cost and Revenue Analysis — Economics STD 11 — Question
Tamilnadu BoardEnglish MediumSTD 11EconomicsCost and Revenue Analysis3 Marks
Question
Write a note on average revenue.
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Answer
Average revenue is the revenue per unit of the commodity sold. It is calculated by dividing the total revenue (TR) by the number of units sold (Q). $\mathrm{AR}=\frac{T R}{Q}$ If TR = PQ $\mathrm{AR}=\frac{P Q}{Q}=\mathrm{P}$ AR = P AR – Average revenue, TR – Total revenue, Q – the quantity of unit sold.
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