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.
Learner's definition of FAMILY. 1. a : a group of people who are related to each other. â This sense of family can refer to a group that consists of parents and their children or it can refer to a bigger group of related people including grandparents, aunts, uncles, cousins, etc. It is often used specifically of a group of related people who live together in one house. [count]