Answer to Question #215192 in Economics for prakash reddy

Question

From the given table calculate TR, MR and AR and highlight the relationship between total revenue (TR) and marginal revenue (MR)

Quantity       Price

50              200

60              150

70              100

80              50

90              10

Answer 1

Quantity       Price TR MR

50             200 10,000 -

60             150 9, 000 (100)

70             100 7, 000 (200)

80             50 4.000 (300)

90             10 900 (310)