Fundamentals of Economic concepts, is an aim to help students understand the the complex and abstract concepts, theories and models in Economics The blog will be using real life examples to help you understand the key concepts of Economics Wealth Welfare definition Marshall Scarcity definition Robins Growth definition Micro and macro economics Stable, unstable and neutral equilibrium. Methodology in Economics Inductive Deductive. Utility and Satisfaction. Keynes. Hicks Adam Smith Samuelson.
Thursday, May 21, 2020
Average Revenue Curve
Average Revenue is the revenue per unit of the commodity sold. It can be calculated by dividing total revenue by the number of units sold to the customers.
Average Revenue= Total Revenue÷Number of units sold to the customers.
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