Home
Class 11
ECONOMICS
What is revenue in microeconomics ? Stat...

What is revenue in microeconomics ? State the relation between marginal revenue and average revenue under perfect competition using usitable diagram or schedule
OR
Dfine supply. Distinguish between ''increase in supply'' and ''extension in supply''

Text Solution

Verified by Experts

Revenue refers to the amount received by a firm from the sale of a given quantity of a commodity in the market.

OR
Supply refers to quantity of a commodity that a firm is willing and able to offer for sale at a given price during a given period of time.
Promotional Banner

Topper's Solved these Questions

  • DEMAND AND ITS DETERMINANTS

    SANDEEP GARG|Exercise Model test paper 3|12 Videos

  • DEMAND AND ITS DETERMINANTS

    SANDEEP GARG|Exercise Model test paper 1|12 Videos

  • DEMAND

    SANDEEP GARG|Exercise Unsolved particles|4 Videos

  • ELASTICITY OF DEMAND

    SANDEEP GARG|Exercise Unsolved practicals|79 Videos

Similar Questions

Explore conceptually related problems

What is revenue in microeconomics ? State the relation between marginal revenue and average revenue under perfect competition using suitable diagram or schedule.

Draw average revenue curve of a firm under perfect competition.

Explain the relationship between total revenue and marginal revenue with the help of a diagram.

Explain the relationship between total revenue and marginal revenue with the help of a reveneu schedule and diagrame.