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Meaning of average revenue curve

 

 

 

Average revenue curve

 

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Business glossary

 

Meaning of term average revenue curve :

 

The average revenue curve is a curve which plots average revenue. It is therefore equivalent to the firm's demand curve. The shape of the average revenue curve will depend on the situation the firm is in. If the firm is a price setter (in other words has a degree of market power) then the curve will be more inelastic (steeper) than if they are a price-taker (where they have little or no market power).

 

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Average revenue curve

 

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Meaning of term average revenue curve

 

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