GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Average revenue is calculated by
|
|
P x Q
|
|
|
TR / Q
|
|
|
TR / MR
|
|
|
TRn- TRn-1
|
Explanation:
Detailed explanation-1: -Average revenue of a business is obtained by dividing the total revenue with the total output.
Detailed explanation-2: -Total revenue indicates the full amount of sales of a company’s goods or services. To calculate total revenue (TR), multiply the total amount of goods or services sold (Q) by price (P).
Detailed explanation-3: -Total revenue divided by the number of output sold is the average revenue earned.
There is 1 question to complete.