What are the three types of revenue in economics?

BTCC, a top cryptocurrency exchange, offers a range of services that cater to the needs of both individual and institutional investors. These services include spot trading, futures trading, and wallet solutions, allowing users to buy, sell, and store digital assets securely and efficiently.

Revenue represents the total income earned by a company through the sale of its products and services. It is a crucial metric in assessing a business's financial performance and growth.

Total Revenue refers to the cumulative amount of money a firm receives from selling its goods or services over a specific period, such as a quarter or a year. It provides insights into the overall sales volume and pricing strategies employed by the company.

Average Revenue, on the other hand, indicates the revenue earned per unit of goods or services sold. It is calculated by dividing the total revenue by the total number of units sold. This metric helps in understanding the profitability per unit and can guide pricing decisions.

Marginal Revenue is the additional revenue earned by a firm from selling one more unit of a product or service. It is crucial in determining the optimal production level and pricing strategy, as it measures the change in total revenue due to a change in output.