Relation between Firm’s AR and MR Curves | Seller’s Revenue
In Fig. 3.1, the firm's AR and MR curves are given to be AB and AC. The AR curve tells the firm's average revenue (= p) at any q (quantity sold), and it also tells the quantity sold (q) or the demand for the good at any price (p). That is why the firm's AR curve is also the firm's [...]