Ch 8: Marginal Revenue: Calculating Price & Quantity Demanded

Ch 8: Marginal Revenue: Calculating Price & Quantity

Demanded

By: Christina Flakes

Objectives

1. Defining Marginal Revenue 2. Calculating given price and quantity demanded

What is Marginal Revenue?

The change in total revenue from selling an additional unit of output

Marginal = Additional

MR =

TR

Q

Quantity 0 1 2 3 4 5

Price

10 15 20 25 30

Total Revenue

Marginal Revenue

10 30 60 100 150

Quantity 0 1 2 3 4 5

Price

10 15 20 25 30

Total Revenue

Marginal Revenue

10

10

30

20

60

30

100

40

150

50

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