Determine the marginal revenue if the total revenue is 80...
Determine the marginal revenue if the total revenue is 80.00
6.00
12.00
14.00
18.00
Correct answer is B
Company calculates marginal revenue by dividing the change in total revenue by the change in total output quantity.
changes in total revenue = 80 - 68 = 12
change in output = 1
therefore 12/1 = 12
so when total revenue is 80, the marginal revenue would be 12
| outputs in units | total revenue in N | Average revenue in N | marginal revenue in N |
| 1 | 20 | 20 | 20 |
| 2 | 38 | 19 | 18 |
| 3 | 54 | 18 | 16 |
| 4 | 68 | 17 | 14 |
| 5 | 80 | 16 | 12 |
Similar Questions
The term "Money at call and short notice" in a bank's assets represents the bank's...
Which of the following statements is true about terms of trade? ...
An important function of the price system is to ...
Development plans in Nigeria have deviated from their targets due to ...
A capital market differs from the money market in that in the former ...
Inflation caused by increase in demand can be curbed by ...
Which of the following is an example of derived demand? ...
The diagram above explains the effect of government's imposition of an indirect tax on a good ch...
Which of the following measures will hinder efficient distribution of goods in West Africa? ...