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Doctors Medicines MCQs Q&A

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 Sold TR MR AR
0
1
2
3
4
5
6
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1 Answers

Quantity Sold TR = P x Q MR = TRn - TRn - 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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