Choose the Correct Answer from Given Options the Total Revenue Earned by Selling 20 Units is ₹ 700. Marginal Revenue Earned by Selling 21st Unit is ₹ 70. the Value of Total Revenue - Economics

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MCQ

Choose the correct answer from given options
The Total Revenue earned by selling 20 units is ₹ 700. Marginal  Revenue earned by selling the 21st unit is ₹ 70. The value of Total Revenue earned by selling total 21 units will be ______________.

Options

  • ₹ 721

  • ₹ 630

  • ₹ 770

  • ₹ 720

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Solution

The Total Revenue earned by selling 20 units is ₹ 700. Marginal Revenue earned by selling the 21st unit is ₹ 70. The value of Total Revenue earned by selling a total of 21 units will be ₹ 770. 

Hence, the correct answer is ₹ 770.

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2018-2019 (March) 58/2/1

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