What is average Revenue?

Average revenue is revenue earned per unit of output sold. It is calculated as
Average revenue formula: TR/Q
Average revenue example
Suppose the total revenue earned by selling 20 units 100. Then,
AR = 100/20 = 5
Relationship between AR, MR and elasticity of demand:
The relationship between AR, MR and elasticity of demand is given by:
Ed = AR/ AR-MR
Where Ed is the elasticity of demand.