Question

Revenue per unit of output sold -

1. Marginal revenuе
2. Marginal cost
3. Average revenue
4. Total revenue

Options

• a, b, c

• a, c, d

• only c

• only b

Answer 1

only c

Explanation:

Revenue per unit of output sold is called Average Revenue (AR). It is calculated as:

Average Revenue = `"Total Revenue"/"Quantity Sold"`

Thus, average revenue shows how much revenue is earned per unit of output sold.