- 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:
Explanation:
Though various ways of bringing music and drama together had been explored over centuries – such as liturgical dramas, the English court masque and its Italian equivalent, the intermedio– the first real opera can be accurately dated. A group of Florentine intellectuals called the Camerata decided to recreate the original form of Greek drama – which they wrongly believed to have been sung throughout – and one of them, Jacopo Peri, accordingly composed Dafne (1597).
Answer:
Bullying is the major disadvantage of Canada.
Explanation:
Globalisation is the advantage of Canada
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