Question
Formula of marginal revenue
Answers
GPT 3.5
The formula for marginal revenue is:
Marginal Revenue = (Change in Total Revenue) / (Change in Quantity)
Alternatively, it can be expressed as:
Marginal Revenue = dTR / dQ
where dTR represents the change in total revenue and dQ represents the change in quantity.
Marginal Revenue = (Change in Total Revenue) / (Change in Quantity)
Alternatively, it can be expressed as:
Marginal Revenue = dTR / dQ
where dTR represents the change in total revenue and dQ represents the change in quantity.