In Econ, what does AR stand for in equations: example..?

Question

P=AR

PRICE=?

HELP! IS IT ACCOUNTING REVENUE, DEMAND... I AM NOT SURE?

Answer 1

when we trace AR (average revenue) curve it is the same as demand curve and MC (Marginal cost) curve is the supply curve (above average variable cost) so AR=P and AR is the Demand Curve. and it is true in all market conditions not only in perfect competetion.

Answer 2

Off the top of my head, I would say Average Revenue.

AR= TR/q

Total Rev= TR =Price x Quantity

q= Quantity produced

I guess AR does equal price! (I'm gonna look this up)

yeah I'm pretty sure that's it, and it's definitely not Accounting Revenue but it could equal demand and price for an individual firm in pure competition.

Answer 3

Average Revenue. That's what it has stood for when I've came across it, anyway.