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13:49
YouTube
ECOHOLICS - Largest Platform for Economics
Revenue | Basic Concepts of Revenue TR, AR, and MR | Microeconomics | Ecoholics
What is the concept of Revenue? Revenue is also known as sales on the income statement The Revenue of a firm is its sales receipts or income.‘ In a firm, revenue is of three types: Total Revenue - TR = Q x P Average Revenue - AR=TR Q Marginal Revenue - MR = TRn – TRn-1 TR-“Total revenue is the sum of all sales receipts or income of a firm ...
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