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Answer the qu...

Question

Answer the question from the information given in the table.

Output
(Units) 10 9 9 7 6 5 4

Price (₹) 10 20 30 40 50 60 70

What is the marginal revenue for the 7th unit of output?

[1 mark]

A

40

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B

5.71

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C

280

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D

(-)20

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Solution

The correct option is D (-)20
Find TR = P × Q, then MR7 = TR7 - TR6
MR7 = (4 × 70) - (5 × 60)
MR7 = (-)20

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