The table below shows the total revenue schedule of a firm. Use the information to answer the question that follows
| Output (units) | 50 | 60 | 70 | 80 | 90 |
| Total revenue (TR) $ | 85 | 102 | 119 | 136 | 153 |
What is the firm’s marginal revenue?
- $153.00
- $17.00
-
$1.70
- $O.80
The correct answer is: C
Explanation
Marginal revenue = the change in total revenue divided by the change in total output quantity.
MR = \(\frac{17}{10}\) = $1.7