Theory of firm under perfect Competition

Economics (CUET)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

The slope of the Total Revenue equals___________.

Average Revenue

Marginal Revenue

Average cost

Marginal cost

Option (2) is correct.
Explanation: Marginal revenue can be defined as change in total revenue divided by increase in one unit of output.

A TR curve is a straight line coming out of the origin the slope of a TR is equal to MR, it equals the market price and AR in perfect competition.