Relationship between Marginal Revenue and Average Revenue is stated below:
(i) When AR is constant, MR = AR.
(ii) When AR is diminishing, AR > MR.
(iii) When AR is rising, AR<MR.
(iv) MR can be negative, but not AR.
Relationship between Marginal Revenue and Average Revenue is stated below:
(i) When AR is constant, MR = AR.
(ii) When AR is diminishing, AR > MR.
(iii) When AR is rising, AR<MR.
(iv) MR can be negative, but not AR.