The change in total revenue resulting from an increase in sale by an additional unit of the product is called __________.

total revenue

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average revenue

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net revenue

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marginal revenue

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Solution

The correct option is A marginal revenue
Marginal revenue is the extra revenue earned by producing and selling one extra unit of output. Thus its calculated as the difference between the revenue of the nth unit and the (n-1)th unit.

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The total revenue in Rupees received from the sale of x units of a product is given by R(x) = 5x² + 22x + 35. Find the marginal revenue, when x = 7, where by marginal revenue we mean the rate of change of total revenue with respect to the number of items sold at an instant.

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The change in total revenue resulting from an increase in sale by an additional unit of the product is called __________.

The correct option is A marginal revenueMarginal revenue is the extra revenue earned by producing and selling one extra unit of output. Thus its calculated as the difference between the revenue of the nth unit and the (n-1)th unit.

The correct option is A marginal revenue
Marginal revenue is the extra revenue earned by producing and selling one extra unit of output. Thus its calculated as the difference between the revenue of the nth unit and the (n-1)th unit.