What is average revenue and average revenue curve, Microeconomics

Assignment Help:

What is average revenue and average revenue curve

Average Revenue:   The average revenue is the total revenue separated by the level of output. It is therefore the price. 

 Average Revenue Curve:   A curve which plots average revenue. It is equal to the demand curve. The shape of the average revenue curve will depend on the situation the firm is in. If the firm has price setting power then the average revenue curve (demand curve) will be downward-sloping. If the firm is a price-taker then the average revenue curve will be horizontal and the similar as the marginal revenue curve. 

 


Related Discussions:- What is average revenue and average revenue curve

#theory of consumer., Ask question #what is an indifference curveMinimum 10...

Ask question #what is an indifference curveMinimum 100 words accepted#

Implementation of economic policies, IMPLEMENTATION OF ECONOMIC POLICIES: ...

IMPLEMENTATION OF ECONOMIC POLICIES: Innumerable studies are available to  document these failures of policy and planning. However, there are vast differences of opinion conce

What is the macroeconomics, What is the Macroeconomics? Macroeconomics...

What is the Macroeconomics? Macroeconomics is study about the aggregate behavior of the economy like how the actions of all the individuals and firms within the economy intera

Microeconomic theory, Homer consumes only donuts and beer. When he consumes...

Homer consumes only donuts and beer. When he consumes less than 10 beers, Homer would gladly drink one more. After drinking 10 beers, Homer is so drunk that he does not notice any

Define contribution pensions, Q. Define Contribution Pensions? Defined ...

Q. Define Contribution Pensions? Defined Contribution Pensions: A pension plan which makes no specified promise about level of pension paid out after retirement. In its place,

Marketing, how distribution is arranged to provide customer service

how distribution is arranged to provide customer service

Production function curve, different types of production funtion and curve ...

different types of production funtion and curve given by different economist

Describe trade unions and collusion among employees, Trade union can also p...

Trade union can also pay a useful role in improving the wages of the workers without causing adverse effects on employment. This case which is intensely associated with the idea of

Baumol theory, appraise baumol`s sales revenue maximazation theory as an al...

appraise baumol`s sales revenue maximazation theory as an alternative of the firm

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd