Match each revenue term to its meaning

Exercise and reference answers

Matching pairs

1. Left

   Average revenue

   Right

   Revenue earned per unit of output sold

2. Left

   Marginal revenue

   Right

   Rise in total revenue from one more unit

3. Left

   Price taker

   Right

   A firm that must accept the market price

Instructions

Tap a term on the left, then tap what it means.

Explanation