- Total money receipts of a firm from the sale of a given output is called total revenue.
TR = OUTPUT*PRICE
Marginal revenue is the change in total revenue when one more unit of a commodity is sold.
MR= change in TR/change in quantity sold
Average revenue refers to revenue per unit of output.
AR=TR/Q
Relationship between AR and MR:
a) When AR is decreasing, MR should be decreasing faster than AR. Thus, downward sloping MR curve is below the downward sloping AR curve(a situation of monopoly and monopolistic competition)
b) If AR is constant, MR is equal to AR. Both are indicated by the same horizontal straight line(a situation of perfect competition)
c) MR can be negative, but not AR.
Answer:
Write about the future of technology in our classroom. explain how soon, we will be using only computures from home and how school may no longer be something you must leave you house for.
Explanation:
The final line of a Spenserian stanza is intended to: <span>a. sum up the previous eight lines
In Spenserian stanza, Ther verse will consist of 9 lines. The first 8 lines will be in iambic parameter and the final line will be in iambic hexameter and will pretty much sum up the previous lines behind it.</span>