Question

Output and average revenue of firm are given below.
Fill up the missing columns and write the relevant equation of TR and MR :

Output	TR	AR	MR
1		50
2		45
3		40
4		34
5		29

Answer 1

Output	TR	AR	MR
1	50	50	...
2	90	45	40
3	120	40	30
4	136	34	16
5	145	29	9

TR = AR x quantity

MR = TR_n - TR_n-1