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Solution - Total, Average and Marginal Revenue

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Question

Under which market form a firm's marginal revenue is always equal to price?

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Suppose total revenue is rising at a constant rate as more units of a commodity are sold, marginal revenue would be:

(a) Greater than average revenue

(b) Equal to average revenue

(c) Less than average revenue

(d) Rising

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What is meant by revenue in microeconomics?

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A firm is able to sell any quantity of a good at a given price. The firm's marginal revenue will be : (Choose the correct alternative):

(a) Greater than Average Revenue

(b) Less than Average Revenue

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State the relation between marginal revenue and average revenue.

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Solution for concept: Total, Average and Marginal Revenue. For the courses 12th CBSE (Arts), 12th CBSE (Commerce), 12th CBSE (Science)
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