hii
what is the relationship between average revenue and marginal revenue?
thank you in anticipation.
hii
what is the relationship between average revenue and marginal revenue?
thank you in anticipation.
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Dear Friend
Average Revenue is the revenue per unit of output sold.It can be calculated by dividing total revenue by the no of units sold.
It is similar to the price at which the units are sold.Average revenue curve of firm is called demand curves of consumers
Marginal revenue is the net addition to the total revenue by selling one more unit of commodity.It is the revenue of additional unit sold.
The relation is as below:
>>If marginal is less than average then average declines
>>If marginal is greater than average then average rises
>>If marginal is equal to average then average does not change
Hope the information helps you.
all the best
aashisranjan784