Distinguish between the Average revenue and Average cost.
Distinguish between the Average revenue and Average cost.
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| S. No. | Average Revenue | Average Cost |
| (i) | Average Revenue (AR) refers to total revenue per unit of output sold. | Average Cost (AC) refers to total cost of production per unit. |
| (ii) | It is calculated as : Average Revenue =Total Revenue/Quantity | It is calculated as :
Average Cost = Total Cost/ Total Quantity of Output |
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