In the words of McConnell, âAverage revenue is the per unit revenue received from the sale of a commodity.â. AR is calculated as: AR = TR/Q. Therefore, from the aforementioned equation, it can be said that AR is the rate at which output is sold, where rate refers to the price of the product.
Confidence votes 196. Family life is the life within your household; how you live with your [sibling(s)] and parent(s)/guardian(s). It consists of the activities you participate in together, and the general way your life is carried out in your home, and with family members.
noun. 1  Family is defined as a specific group of people that may be made up of partners, children, parents, aunts, uncles, cousins and grandparents. An example of a family is a set of parents living with their children. 2  The definition of family is the group of people who share common ancestors.