question mode multiple choice question demand and revenues for a monopoly price (dollars) quantity (units) total revenue (dollars) marginal revenue (dollars) $40 0 $35 5 $30 10 $25 15 $20 20 $15 25 using the demand schedule, what is the total revenue (tr) for the 15th unit? multiple choice question. $25 $400 $375 $15

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21-11-2022
Business

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question mode multiple choice question demand and revenues for a monopoly price (dollars) quantity (units) total revenue (dollars) marginal revenue (dollars) $40 0 $35 5 $30 10 $25 15 $20 20 $15 25 using the demand schedule, what is the total revenue (tr) for the 15th unit? multiple choice question. $25 $400 $375 $15

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alifaijal77 alifaijal77 · Answer 1 · 2022-11-29T11:50:21+01:00

You must first determine Total Revenue at 5 units and 10 units before you can determine MR. TR = P × Q. TR at 5 = (35)(5) = $175. TR at 10 = (30)(10) = $300. Change in TR/Change in Q equals MR. MR = (300 175)/(10 5) = (125)/(5) = $25 at 10 units. Therefore option A is correct.

What is Revenue?

Revenue is the sum of all sales of products and services that a business records during a given time period. Revenue, often known as sales or income, is the first line of a firm's income statement and is frequently referred to as the "Top Line" of a corporation. A company's profit, also known as net income, is calculated by deducting expenses from its revenue.

According to the accounting concept of revenue recognition, when ownership advantages and risks have been transferred from a seller to a buyer or when services have been rendered, revenue is recognized.

To learn more about Revenue follow the link.

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