Calculate the total revenue, marginal revenue and average revenue sche – InterviewSolution

1.

Calculate the total revenue, marginal revenue and average revenue schedules in the following table. Market price of each unit of the good is Rs 10.Quantity SoldTRMRAR0123456

Answer»

Quantity Sold	TR = P x Q	MR = TR_n- TR_{n - 1}	AR = 10
0	-	-	-
1	10 x 1 = 10	10 - 0 = 10	10
2	10 x 2 = 20	20 - 10 = 10	10
3	10 x 3 = 30	30 - 20 = 10	10
4	10 x 4 = 40	40 - 30 = 10	10
5	10 x 5 = 50	50 -40 =10	10
6	10 x 6 = 60	60 -50 =10	10

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