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#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Total revenue increases with a greater quantity, but the rate of increase in TR (as measured by marginal revenue) declines as quantity increases.
Average revenue and marginal revenue decrease when output increases, with MR falling faster than price and AR.
Average revenue is equal to price at each quantity level.
This shows the relationships among the revenue variables.
Average revenue and marginal revenue decrease when output increases, with MR falling faster than price and AR.
Average revenue is equal to price at each quantity level.
This shows the relationships among the revenue variables.
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