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

Advertisement Remove all ads
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

Advertisement Remove all ads

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.

Concept: Total, Average and Marginal Revenue
  Is there an error in this question or solution?
Advertisement Remove all ads

Video TutorialsVIEW ALL [1]

Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×