Question

Explain total revenue average andmarginal revenue

Answer 1

Answer:

indicates how much revenue increases for selling an additional unit of a good or service. To calculate marginal revenue, divide the change in total revenue by the change in the quantity sold. Therefore, the marginal revenue is the slope of the total revenue curve. ... Its total revenue would be $1,800 (1,000 + 100 x 8)

Answer 2

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In the business market, total revenue, average revenue, marginal revenue are internally related. According to the selling of a firm, total revenue is the whole product price; average revenue means the selling price per unit quantity and marginal revenue is the change of total revenue per unit quantity change.