Marginal, Average, and Total Revenue (AQA A-Level Economics): Flashcards

Price per unit × quantity sold

$AR = \frac{TR}{Q}$

$MR = \frac{\Delta TR}{\Delta Q}$

Change when one more unit produced/sold

Identical/same line

Average rises

D = AR = MR (horizontal line)

Price-taker

Price-maker

Below AR curve