Identify and explain the concept : Abhijeet sold 15 chairs for ₹ 3000, for each chair he earned ₹ 200.
Q.2 (A) (i) Identify and explain the concept : Abhijeet sold 15 chairs for ₹ 3000, for each chair he earned ₹ 200.
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Answer: Average revenue
Average revenue (AR) is the revenue earned per unit of output sold. \(AR = \dfrac{TR}{Q} = \dfrac{3000}{15} = ₹\,200\). Here ₹ 3000 is the total revenue and ₹ 200 earned per chair is the average revenue. AR is the same as the price of the product.
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· 28 Oct 2026
AI-verified · Oct 2026
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