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
A firm produces x tonnes of output at a total cost of C(x) = `1/10x^3 - 4x^2 - 20x + 7` find the
- average cost
- average variable cost
- average fixed cost
- marginal cost and
- marginal average cost.
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 – bx)2
Find the elasticity of supply for the supply function x = 2p2 + 5 when p = 3.
Find the values of x, when the marginal function of y = x3 + 10x2 – 48x + 8 is twice the x.
For the demand function x = `25/"p"^4`, 1 ≤ p ≤ 5, determine the elasticity of demand.
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.
For the demand function p x = 100 - 6x2, find the marginal revenue and also show that MR = p`[1 - 1/eta_"d"]`
If the demand function is said to be inelastic, then:
A company begins to earn profit at:
