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Question
When all units are sold at the same price, what is the relation between Average Revenue (AR) and price (P)?
Options
AR is greater than P
AR is less than P
AR is equal to P
AR has no relation with P
MCQ
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Solution
AR is equal to P
Explanation:
Average Revenue is revenue per unit, and if all units are sold at the same price, AR is equal to the price of the commodity.
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