Key in the revenue

Exercise and reference answers

Questions

1. Answer

   12

   Question

   A price taker sells at Rs 12 per unit. What is its marginal revenue?

2. Answer

   12

   Question

   A price taker sells at Rs 12 per unit. What is its average revenue?

3. Answer

   120

   Question

   A firm sells 10 units at Rs 12 each. What is its total revenue?

4. Answer

   30

   Question

   Total revenue is Rs 120 and total cost is Rs 90. What is the profit?

Instructions

Work out each answer and key it in on the pad.

Explanation