The price per unit of a commodity to a buyer is the same as the

Assessment: JAMB UTME - Economics - 2007 Subject: Economics

Question 1 Report

The price per unit of a commodity to a buyer is the same as the
Answer Details
The price per unit of a commodity to a buyer is the same as the **average revenue of the seller**. Average revenue is the total revenue earned by the seller by selling all units of the commodity divided by the total number of units sold. In other words, it is the revenue earned per unit of the commodity. Since the price of the commodity is the revenue earned per unit by the seller, the price per unit is the same as the average revenue of the seller.

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