Question

Calculate : Average Revenue and Marginal Revenue from the following given data:

| Total Sales (In Units) | 1 | 2 | 3 | 4 |
| Total Revenue (In) | 20 | 36 | 48 | 56 |

Answer 1

| Average Revenue (AR) | 20 | 18 | 16 | 14 |
| Marginal Revenue (MR) | 20 | 16 | 12 | 8 |