the total receipts from sales divided by the number of units sold, frequently employed in price theory in conjunction with marginal revenue.
What’s The Difference: Average, Mean, Median, And ModeAs you probably know the terms average, mean, median, and mode are commonly confused with one another because they all describe ways to talk about sets of numbers.
DJIARead more in this article about some frequently asked questions and fun facts related to our definitions.
- average adjuster,
- average deviation,
- average joe,
- average speed,
- averaging light meter,
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019