Concepts of Revenue|What is Revenue ?|How many types of Revenue ?|What is total Revenue ?|What is marginal revenue ?
What is Revenue ?
The total amount recieved by a firm from the sale of an item is called revenue.
How many types of Revenue ?
There are three types of Revenue ?
i) Total Revenue
ii) Marginal Revenue
iii) Average Revenue
               What is total Revenue ?
The revenue that a firm gets by selling a given output is called total revenue.
  TR =P×Q
           What is marginal revenue ?
Marginal revenue is the change in total revenue when one more unit of a commodity is sold.
              What is average yield?
Average receipts refer to revenue per unit of output.
               AR,MR legend TR price stable
                   graphical presentation
• TR is increasing at the same rate. Hence TR is represented by an upward moving straight line.
• Both AR and MR are shown as horizontal straight lines as price is constant. When AR is constant then MR is also constant and AR=PR





