Maharashtra State BoardHSC Arts 12th Board Exam
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Fill in the Blank with Appropriate Alternative Given Below Total Revenue ÷ Number of Units Sold = ________________ . - Economics

MCQ

Fill in the blank with appropriate alternative given below

Total Revenue ÷ Number of units Sold = ________________ . 

Options

  • Average Cost

  • Average Revenue

  • Marginal Cost

  • Total Cost

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Solution

Total Revenue ÷ Number of units Sold =  Average Revenue.

Explanation:

Average revenue is the revenue earned per unit of output sold. It is equal to total revenue divided by total number of units sold. Algebraically,

`"Total Revenue"/"Number of Units Sold" = "Average Revenue"`

  Is there an error in this question or solution?
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 5 Producer's Behaviour
Exercise | Q 1.5 | Page 44
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