Total, average, marginal and incremental revenue concept
Explain the meaning of total, average, marginal and incremental revenue.
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Total revenue implies the product of commodity price to the total quantity of outputs produced within a current business period. As well as average revenue is acquired by dividing the total revenue along with number of units sold. And also marginal revenue is the additional revenue to total revenue while an additional unit is generated.
Formulate the Cross Elasticity of demand?
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Illustrates the term variable cost?
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Illustrates the term Dumping?
Explain the marginal input-output relationship in short run and long run.
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An apparent monopoly might charge the competitive price in the long run when: (w) exit is costly. (x) entry and exit are relatively costless. (y) this is not a natural monopoly. (z) this is not regulated. Q : Define the term cost plus pricing Define the term cost plus pricing.
Define the term cost plus pricing.
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