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Average Revenue means:

A. Per unit revenue received from all the units sold by the producer

B. Revenue of the units having average size

C. Total number of units× Revenue per unit

D. Total revenue × Number of units sold

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  1. Cross-elasticity of demand or cross-price elasticity between two perfect substitutes will be:
  2. In the long-run:
  3. The longer the period of time, the elasticity of supply will be:
  4. The demand curve in monopolistic competition (also in kinked demand curve model), which shows the share…
  5. When elasticity of demand is greater than one (e >1), then following the formula MR=P[1-1/e], the MR…
  6. In monopoly, the relationship between average revenue and marginal revenue curves is as follows:
  7. Isocost line shows the combinations of labor and capital where a firms budget is:
  8. In joint-profit maximization cartel, the distribution of profit is:
  9. Contraction of demand means:
  10. Technological Progress (Invention) can be defined as:
  11. Contracts made by firms in cooperative games are:
  12. LMC represents change in LTC (long-run total cost) due to producing an additional unit of a good while…
  13. Change in demand refers to:
  14. The Law of Proportionality is another name of:
  15. The water diamond paradox was firstly resolved with the help of:
  16. Airlines that try to lower fares in order to increase revenues believe that demand for airline services…
  17. Under the perfect competition, the transportation cost:
  18. Conditions of perfect competition ensure:
  19. In general, most of the production functions measure:
  20. The addition or increment to the total cost involvesd in expanding or contracting output by one unit…
  21. A monopolist is:
  22. Perfect competition assumes:
  23. The cobweb model will convergent when the slope of:
  24. The fundamental choices that a society must make about the use of its resources include:
  25. Marginal utility (MU) always:
  26. Marginal Productivity Theory deals with the theory of:
  27. The Hicksian demand curve includes:
  28. If Cobb-Douglas production function is homogeneous of degree less than one (n
  29. If the commodity is normal then fall in price will result in:
  30. In cournot model, firms sell: