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Production and cost — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsProduction and cost1 Mark
Question
Define Marginal Revenue.
✓

Answer

Marginal Revenue is the change in Total Revenue on account of the sale of an additional unit of output.
$MR_{nth} = TR_n - TR_{n - 1}$​​​​​​​

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