Disagree: There are 3 types of revenue. Total revenue:  Total revenue (TR) refers to the amount of money realized by a firm on the sale of a commodity. Total revenue is expressed as follows. TR = P x Q, where TR – Total Revenue, P – Price, and Q – Quantity of the commodity sold. A firm sells 100 units of a particular commodity for Rs. 10 each. If you were to calculate the amount realized by the firm, the answer is simple – Rs. 1,000 (100 x 10). This is the total revenue for the firm. Average revenue: Average revenue (AR) is simply the revenue earned per unit of the output. In simpler words, it is the price of one unit of the output. Average revenue is expressed as follows: AR=TR/Q, Where AR = Average Revenue, TR = Total Revenue, and Q = Quantity of the commodity sold. For example, a firm sells 100 units of a commodity and realizes a total revenue of Rs.1,000. Therefore, its average revenue is AR = Rs.1000/Rs.100 = Rs.10. Marginal revenue: Marginal revenue (MR) is the change in total revenue resulting from the sale of an additional unit of a commodity. For example, consider a firm selling 100 units of a commodity and realizing total revenue of Rs. 1,000. Further, it realizes total revenue of Rs. 1,200 after selling 101 units of the same commodity. Therefore, the marginal revenue is Rs. 200. Marginal revenue is also defined as the rate of change of total revenue resulting from the sale of an additional unit of a commodity. Therefore, MR=ΔTR/ΔQ, where MR = Marginal revenue, TR = Total revenue, Q = Quantity of the commodity sold, and Δ = the rate of change.