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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #756455
Introduction to Economics 1 Deneme Sınavı Sorusu #756455
According to the information given in the above table, what is the ‘average revenue’ of this competitive firm?
|
3 |
|
4 |
|
5 |
|
6 |
|
7 |
Yanıt Açıklaması:
Average revenue is how much revenue a firm gets for each unit sold. Average Revenue (AR) is calculated as follow;
Average Revenue (AR) = Total Revenue (TR) / quantity (q)
Thus, 12 / 3; 48 / 12; 80 / 20; or 140 / 35 is equal to 4. The correct answer is B.
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