Economics waec 2007

Given that TR is total revenue, then TRn -TR (n-1) can be used to find the

a

marginal revenue

b

marginal cost

c

average cost

d

average revenue

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Actually, anything said to be marginal is actually an addition or change and the formula ought to be: change in TOTAL REVENUE divided by change in quantity.

Anything said to be marginal is actually an addition or change and the formula ought to be: change in TOTAL REVENUE divided by change in quantity.

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