What is the Concept of revenue?

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1125311

2026-05-19 18:20

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Average revenue (AR): total revenue per unit of a product sold;

Total revenue (TR): total number of dollars received by a firm or firm from the sale of a product;

Marginal revenue (MR):additional revenue received result from the sale of an extra unit of product;

Under perfect competition P=AR=MR and the firm's demand curve is flat.

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