The Three Revenue Measures
The Three Revenue Measures
Revenue is the income a firm receives from selling its output. Total revenue measures all income, average revenue measures income per unit, and marginal revenue measures the extra income from selling one more unit.
Step-by-step lessons covering Edexcel A A Level Economics 3.3.1 Revenue for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.