Advertisements
Advertisements
Question
Identify and explain the concept from the given illustration:
Hritik earned additional revenue of ₹750 by selling additional chairs.
Short Note
Solution
- Identified concept: Marginal revenue
- Explanation of concept: The net increase in overall revenue from selling an additional unit of the commodity is known as marginal revenue. It is calculated with the help of the following formula: MRn = TRn - TRn -1
shaalaa.com
Is there an error in this question or solution?
