Question

Make a schedule showing total revenue, marginal revenue, average revenue ,in case of a firm whose total revenue is increasing at a constant rate

Answer 1

Answer:

There are four major market types namely, perfect competition, monopoly, monopolistic competition, and oligopoly. Before you understand these market forms, it is important to know the concepts of total revenue, average revenue, and marginal revenue. In this article, we will clarify these concepts with the help of some examples and look at the behavioral principles.