We know that profitis the surplus of revenue over the total cost of production and is calculated using the following expression Profit = Total Revenue – Total Cost. You have to collect the monthly cost for eight months production figure of a manufacturer and then his total revenue and marginal revenue corresponding to each monthly figure assuming that average revenue is Rs. 25. Thereafter you will have to calculate his monthly profit. Show your calculation in a tabular manner.
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Answer:we know tha profits the surplus of revenue over the total cost of production and his calculated using following expression profits,=total revenue =total
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