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Average Revenue is revenue that a firm earns from one unit of output. You will get the average revenue by dividing the total revenue with the total units sold. Revenue concept is an important part of Economics and you cannot learn this topic easily without any external help. We at BookMyEssay, offer you the best Average Revenue Concept assignment help. We have employed live tutors who can offer you 24×7 academic writing guidance and assistance related to revenue concepts.

What is the Average Revenue Concept?

Average Revenue is the revenue received by dividing the total revenue by the total quantity. Average revenue is often defined by the term price. If you compare average to average revenue, average revenue is the profit generated in one unit of output.

Average Revenue plays a vital role in deciding the profit of a firm. Profit per unit is average revenue subtracted by average cost. The firms produce that quantity of output, which maximizes their profit.

The relation between average revenue and its output quantity depends on a market structure. In a perfectly competitive firm, AR or Average revenue is not just equal to price but is equal to marginal revenue and they are all constant.


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In a monopolistic competitive, monopoly, and oligopoly firm, average revenue is higher compared to marginal revenue. These decrease when the output quantity is large. The reducing nature of average revenue indicates a firm’s market control. Our academic tutors provide you help for assignment on Average Revenue concept understand the theoretical and practical concepts thoroughly.

Average Revenue Under Perfect Competition

When there is perfect competition in a market related to a product, the demand curve that an individual firm faces is elastic and the price is not under the control of the firm, the average revenue stays constant. When the average revenue or price is the same at a time when more units are sold, the marginal revenue is equal to average revenue.

This is because when one additional unit is sold and its price does not fall, an addition made to a total revenue shall be equal a price it is being sold as there is no revenue loss made on the earlier units. This concept is discussed in detail in our Average Revenue Concept homework help online.

Average Revenue and Oligopoly, Monopoly, and Monopolistic Competition

Conceptually an average revenue remains the same for the market structures such as oligopoly, monopoly, and monopolistic competition as the firms are not price takers but price makers. Market control indicates the market structures have demand curve sloped negatively. The prices received may not be fixed, however, they depend on the output quantity sold. This remains the same for an average revenue too.

The average revenue curve regarding the firms having market control is a little different compared to a perfectly competitive market. Huge output quantities are possible with reduced prices.

Oligopoly firms and monopolistic competition face negative demand curves compared to average revenues. We solve the problems in a step-by-step procedure and offer quality content.

The Relation Between Average Revenue (AR) and Marginal Revenue (MR)

The relation between Average Revenue and Marginal Revenue is discussed as follows when you buy assignment help for Average Revenue concept topics:

Monopolistic Competition

The relation between MR and AR remains the same under monopoly. However, the AR curve is more elastic compared to the MR curve. This is because the products are substitutes under monopolistic competition. A firm may enhance sales by price reduction.

Oligopoly

The MR and AR curves do not face a downward slop under oligopoly. The number of sellers in an oligopoly is very small. The effect or price increase on the part of a seller shall be followed by changes in a firm’s behavior.


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