Cost Of Production and Concept of Revenue — Economics STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsCost Of Production and Concept of Revenue1 Mark
Question
What do you mean by Marginal Revenue?
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Answer
The change in total revenue which results from the sale of one more unit of a commodity is called the marginal revenue.
Formula : $MRn = Rn – R(n – 1)$
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