Grade Booster student workshops are back in cinemas for 2022. Learn more
Here is an exam question testing student understanding of the relationship between average revenue (demand) and total revenue.
What is total revenue?
Total revenue (TR) is found by multiplying price (P) by output i.e. number of units sold. Total revenue is maximized when marginal revenue = zero.
Boston House,
214 High Street,
Boston Spa,
West Yorkshire,
LS23 6AD
Tel: +44 0844 800 0085
© 2022 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.