Advertisements
Advertisements
Question
If the average revenue of a certain firm is ₹ 50 and its elasticity of demand is 2, then their marginal revenue is:
Options
₹ 50
₹ 25
₹ 100
₹ 75
Advertisements
Solution
₹ 25
APPEARS IN
RELATED QUESTIONS
The total cost of x units of output of a firm is given by C = `2/3x + 35/2`. Find the
- cost when output is 4 units
- average cost when output is 10 units
- marginal cost when output is 3 units
If the demand law is given by p = `10e^(- x/2)` then find the elasticity of demand.
Find the elasticity of demand in terms of x for the following demand laws and also find the value of x where elasticity is equal to unity.
p = a – bx2
The demand function of a commodity is p = `200 - x/100` and its cost is C = 40x + 120 where p is a unit price in rupees and x is the number of units produced and sold. Determine
- profit function
- average profit at an output of 10 units
- marginal profit at an output of 10 units and
- marginal average profit at an output of 10 units.
Find the equilibrium price and equilibrium quantity for the following functions.
Demand: x = 100 – 2p and supply: x = 3p – 50.
Find the elasticity of supply when the supply function is given by x = 2p2 + 5 at p = 1.
If demand and the cost function of a firm are p = 2 – x and C = -2x2 + 2x + 7 then its profit function is:
If the demand function is said to be inelastic, then:
Relationship among MR, AR and ηd is:
A company begins to earn profit at:
