average cost and mariginal cost both are calculated from______ cost
Answers
Answer:
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Explanation:
Marginal cost (MC) is calculated by taking the change in total cost between two levels of output and dividing by the change in output. The marginal cost curve is upward-sloping. Average variable cost obtained when variable cost is divided by quantity of output.
Answer:
The Concept of Average Revenue and Marginal Revenue!
A producer or seller of good is also very much concerned with the demand for a good, because revenue obtained by him from selling the good depends mainly upon the demand for the good.
Average Revenue:
Average Revenue:Price paid by the consumer for the product forms the revenue or income of the seller. The whole income received by the seller from selling a given amount of the product is called total revenue. If a seller sells 15 units of a product at price Rs. 10 per unit and obtains Rs. 150 from this sale, then his total revenue is Rs. 150.