The average revenue is defined asSelect one:а.The revenue per unit.b.The variable cost per unit.C.The total revenue added to the total cost.d.The rate of change of total revenue with respect to the quantity demanded.

Total revenue is defined as the revenue earned by a firm by selling all its output.

The average revenue is defined as Select one: а. The revenue per unit. b. The variable cost per unit. С. The total revenue added to the total cost. d. The rate of change of total revenue with respect to the quantity demanded.

The average revenue is defined as Select one: а. The revenue per unit. b. The variable cost per unit. С. The total revenue added to the total cost. d. The rate of change of total revenue with respect to the quantity demanded.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter5: Buying The Necessities

Section: Chapter Questions

Problem 20AA

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Question

The average revenue is defined as
Select one:
а.
The revenue per unit.
b.
The variable cost per unit.
C.
The total revenue added to the total cost.
d.
The rate of change of total revenue with respect to the quantity demanded.

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QUESTION 4 (10 marks) Price/Revenue/Cost (RM) MC 60 АТС 30 DD= AR 18 `MR Quantity (units) 50 60 80 a) Calculate the total revenue (TR) earned by the firm. (3m) b) Calculate the total costs (TC) paid by the firm. (3m) c) Calculate the profit of the firm. Name the profit. (4m) 2