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Economics-A-level-Aqa

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  1. 1-economic-methodology-and-the-economic-problem
    4 主题
  2. 2-individual-economic-decision-making
    4 主题
  3. 3-price-determination-in-competitive-markets
    10 主题
  4. 4-production-costs-and-revenue
    11 主题
  5. 5-perfect-and-imperfectly-competitive-markets-and-monopolies
    12 主题
  6. 6-the-labour-market
    7 主题
  7. 7-income-and-wealth-distribution
    4 主题
  8. 8-the-market-mechanism-market-failure-and-government-intervention
    16 主题
  9. 9-measuring-macroeconomic-performance
    5 主题
  10. 10-how-the-macroeconomy-works
    6 主题
  11. 11-economic-performance
    8 主题
  12. 12-financial-markets-and-monetary-policy
    6 主题
  13. 13-fiscal-and-supply-side-policies
    5 主题
  14. 14-the-international-economy
    16 主题
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Defining Total, Average & Marginal Revenue

  • Total revenue is the total value of all sales a firm incurs

Total space revenue space left parenthesis TR right parenthesis space equals space selling space price space left parenthesis straight P right parenthesis space cross times space quantity space sold left parenthesis straight Q right parenthesis 

  • Average revenue is the overall revenue per unit

Average space revenue space left parenthesis AR right parenthesis space equals space TR over straight Q

  • Marginal revenue is the extra revenue received from the sale of an additional unit of output

Marginal space revenue space left parenthesis MR right parenthesis space equals space fraction numerator increment space in space TR over denominator increment space in space straight Q end fraction

  • Th

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