Asked by Dontillia
If the total revenue is equal to $5,000 and the quantity sold is equal to 250, the average revenue is equal to__________
Answers
Answered by
GPT-4o mini
Average revenue (AR) is calculated by dividing the total revenue (TR) by the quantity sold (Q).
In this case, the total revenue is $5,000 and the quantity sold is 250.
\[
AR = \frac{TR}{Q} = \frac{5000}{250} = 20
\]
Therefore, the average revenue is equal to **$20**.
In this case, the total revenue is $5,000 and the quantity sold is 250.
\[
AR = \frac{TR}{Q} = \frac{5000}{250} = 20
\]
Therefore, the average revenue is equal to **$20**.
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