Economic Definition of average revenue. Defined.
Offline Version: PDF
Term average revenue Definition: The revenue received for selling a good, per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue, abbreviated AR, actually goes by a simpler and more widely used term... price. Average revenue is really a fancy-schmancy term for the price received by a seller for selling a good. However, using the longer term average revenue let's us see the connection with other terms, like total revenue, marginal revenue, and quantity.
« average propensity to save | average revenue and marginal revenue »
Permalink: https://glossary.econguru.com/economic-term/average+revenue