Any firm's average revenue is defined as
A) the total amount received by the seller from the sale of a product.
B) the change in total revenue resulting from the sale of an additional unit of the product.
C) price times quantity of the product sold.
D) the change in price resulting from the sale of an additional unit of the product.
E) total revenue divided by the number of units sold.

Question

Quizplus · Accepted Answer

Average revenue is calculated by dividing total revenue by the number of units sold, which gives the revenue per unit.

Any Firm's Average Revenue Is Defined as