Question

From the following table, calculate marginal revenue and average revenue.

| Output: | 1 | 2 | 3 | 4 | 5 |
| Total revenue: | 10 | 18 | 24 | 28 | 30 |

Answer 1

| Output | Total revenue | Marginal revenue | Average revenue |
| 1 | 10 | 10 | 10 |
| 2 | 18 | 8 | 9 |
| 3 | 24 | 6 | 8 |
| 4 | 28 | 4 | 7 |
| 5 | 30 | 2 | 6 |