Answer:
see below
Explanation:
Average revenue refers to the revenue per output. It is the revenue that a business expects to make from the sale of any item. Average revenue is calculated by dividing the total revenue by the total output.
i.e., Average revenue (AR) = Total revenue (TR) / total output (Q).
Marginal revenue is the revenue generated from the sale of an extra unit. It is the revenue attributed to one more output. It is illustrated by a change in total revenue when one more unit is sold.
