00:02
We are given with the following information.
00:07
The first column is the quantity, the second column is the total cost, then the marginal cost.
00:20
We need to find out marginal revenue and average revenue.
00:26
The quantity given as follows 5, 10, 15, 20, 25 and 30.
00:43
The total cost given to us is 60 .00, 67 .50, 77 .50, 92 .50, 117 .50 and 152 .50.
01:13
The marginal cost given to us is 2 .00, 1 .50, again 2 .00, 3 .00, 5 .00 and 7 .00.
01:37
Now to find out the marginal revenue, first we need to find out the total revenue and for that in the question, the market price of the apples are given as rs.
01:53
3 per piece.
01:55
So accordingly we will find out the total revenue and we know that the price is rs.
02:02
3 per piece which means 5 x 3 will give us 60, 25 x 3 will give us 75 and 30 x 3 will give us 90.
02:34
Now to find out the marginal revenue, we will deduct, that is we will put the formula of trn -trn -1.
02:45
First one will be 15 only, then we will get 30 -15 that is 15, 45 -30 again 15, 60 -45 that is 15, 75 -60 is 15 and 90 -75 is again 15.
03:09
Now the last column says that we need to find out the average revenue and to find out the average revenue, we need to put the formula that is total revenue divided by quantity...