Average revenue is
A)the typical or average sales generated for all items within an industry.
B)the average amount of revenue necessary for a business to remain profitable.
C)total revenue divided by the quantity sold.
D)the difference between the highest and lowest price charged for a given item within a specific firm.
E)the difference between the highest and lowest price charged for a given item within a specific industry.

Question

Quizplus · Accepted Answer

Average revenue is calculated by dividing total revenue by the quantity sold. It represents the amount of revenue earned per unit of output sold, rather than the overall sales generated within an industry or the difference between prices charged. It is not directly related to a business's profitability.

Average Revenue Is