Consider the following demand and cost information
$\begin{array} { | c | c | c | }
\hline \text { Quantity } & \text { Price } & \text { Total Cost } \
\hline 0 & \text { R40 } & \text { R10 } \
\hline 1 & \text { R30 } & \text { R15 } \
\hline 2 & \text { R20 } & \text { R25 } \
\hline 3 & \text { R10 } & \text { R40 } \
\hline 4 & \text { R0 } & \text { R60 } \
\hline
\end{array}$

-Refer to the table above. The marginal revenue of the second unit is

Question

Consider the following demand and cost information
$\begin{array} { | c | c | c | } 
\hline \text { Quantity } & \text { Price } & \text { Total Cost } \
\hline 0 & \text { R40 } & \text { R10 } \
\hline 1 & \text { R30 } & \text { R15 } \
\hline 2 & \text { R20 } & \text { R25 } \
\hline 3 & \text { R10 } & \text { R40 } \
\hline 4 & \text { R0 } & \text { R60 } \
\hline
\end{array}$

-Refer to the table above. The marginal revenue of the second unit is

Quizplus · Accepted Answer

Marginal revenue is the change in total revenue from selling one more unit. Total revenue for 1 unit is R30, and for 2 units is R40 (2 units x R20 each). The marginal revenue for the second unit is R40 - R30 = R10.

Consider the Following Demand and Cost Information -Refer to the Table Above