Question

draw a rough sketch of cost ,averege cost,marginal cost ,revenue,averge revenue ,marginal revenue​

Answer 1

Draw a rough sketch of cost ,average cost,marginal cost ,revenue,average revenue ,marginal revenue​

Explanation:

1. Cost

Cost is the money which is spend by the company  on production .

   2.  Average cost

Average cost is the cost which is equal to total cost divided by the number of units of a good produced.Refer image 1.

 3. Marginal cost

Marginal cost is the change in the total cost which  arise whwn the quantity produced is increased by 1 unit. Refer image 2.

4.Revenue

Revenue is the money which is received by a government na all other sources.

5.Average revenue

This revenue is obtained by dividing the total revenue with the total output. Refer image 3.

6. Marginal revenue

It is a concept which describes the additional total revenue generated by increasing product sales by 1. Refer image 4.