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What is Understanding Revenue Concepts Explained about?
Total revenue is the total income generated from the sale of goods or services and is calculated by multiplying price per unit by the number of units sold. Average revenue is total revenue divided by the number of units sold, which in this example is Rs. 5 per unit. Marginal revenue is the change in total revenue from selling one additional unit, which here is Rs. 10.
- Author
- medha sur
- Language
- EN