Class 11 Micro Economics: Revenue
Chapter 7: Revenue — understand how a firm's sales translate into income through Total, Average and Marginal Revenue. CBSE Class 11 Microeconomics notes covering 5 topics: Meaning of Revenue, Concept of Revenue, Revenue Curves under Perfect Competition, Revenue Curves under Imperfect Competition, and Relationships between TR-MR and AR-MR.
Topics(5)
Meaning of Revenue
Meaning of Revenue — understanding what revenue is, how it moves with sales, and how it differs from profit. CBSE Class 11 Microeconomics notes with the chair example.
Concept of Revenue (TR, AR, MR)
Concept of Revenue — understanding the three revenue concepts: Total Revenue, Average Revenue and Marginal Revenue. CBSE Class 11 Microeconomics notes with formulas, the revenue schedule and practice problems.
Revenue Curves under Perfect Competition
Revenue Curves under Perfect Competition — understanding AR-MR and TR behaviour when the firm is a price-taker. CBSE Class 11 Microeconomics notes with schedules and curve diagrams.
Revenue Curves under Imperfect Competition
Revenue Curves under Imperfect Competition — understanding downward-sloping AR and MR curves and the monopoly versus monopolistic competition difference. CBSE Class 11 Microeconomics notes with graphs and practice problems.
Relationships: TR-MR and AR-MR
Relationships: TR-MR and AR-MR — understanding the six key rules connecting the revenue concepts. CBSE Class 11 Microeconomics notes with curve diagrams and solved examples.