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Last edited 14 Apr 2022
The glossary of statistical terms, published by the Organisation for Economic Co-operation and Development (OECD), states: ‘Revenues (or total revenue) refer to the value of output sold, that is the number of units times the price per unit. Average revenue is revenue per unit, that is total revenue divided by the amount of output sold. Average revenue is therefore equal to price per unit. Marginal revenue is the increment in total revenue resulting from the sale of an additional unit. The term "revenue" is often used interchangeably with "sales" and "turnover".’
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