Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board
Chapter-4 Supply Analysis [Latest edition] [Latest edition]
4. Average revenue and Average cost.
Average Revenue | Average Cost |
Average Revenue (AR) refers to total revenue per unit of output sold. | Average Cost (AC) refers to total cost of production per unit. |
It is obtained by dividing the total revenue by the number of units sold. | It is calculated by dividing total cost by total quantity of production. |
It is calculated as : Average Revenue = Total Revenue/Quantity | It is calculated as :Average Cost = Total cost/Total Quantity Output |
