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प्रश्न
Which concept of revenue is called ‘price’?
What revenue concept is also called ‘price’? Explain.
स्पष्ट करा
लघु उत्तर
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उत्तर
- The concept of revenue that is called ‘price’ is Average Revenue (AR).
- Average revenue is the revenue earned per unit of output sold.
- In most cases, especially under perfect competition, AR = price of the commodity.
- So, average revenue is also known as price.
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Notes
Students should refer to the answer according to the question.
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