Meaning Average revenue product
What does Average revenue product mean? Here you find 2 meanings of the word Average revenue product. You can also add a definition of Average revenue product yourself
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Average revenue productTotal revenue generated per unit of a variable input, keeping all other inputs unchanged. Average revenue product, usually abbreviated ARP, is found by dividing total revenue by the variable input. Av [..]
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Average revenue productIn the theory of factor pricing, average revenue product is total revenue divided by the number of units of the factor employed.
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