Really helpful in making my project related to elasticity total revenue and marginal revenue thank yew so much sir i can easily understand the concept after watching this..... I have only seen your two vedios but its really helpful and the way you tech is really help me to undertake easily ☺️☺️thanks sir
15:58..From what you explain, I don't even understand the difference between Price, Average revenue and Marginal revenue.. all seems the same.. what is the point of having these three if all are the same..
Thank you for sharing your suggestion. Your suggestion is actually the average revenue formula. Unfortunately, it only works for the scenario where the price of the good is constant, that is in perfectly competitive market. In a market with a monopoly, the price declines so the marginal revenue is not equal to average revenue. Suppose the following: TP Price TR Average Revenue= TR÷TP Marginal Revenue =(TR2-TR1) ÷ (TP2-TP1) is AR =MR? 1 30 30 30 NA No 2 25 50 25 20 No 3 20 60 20 10 No 4 15 60 15 0 No If we compare the results of using average revenue formula, as you suggested, and the marginal revenue formula the results are different. So, I am reluctant to recommend your suggestion to my viewers. Thank you for your willingness to share your thoughts.
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I finally understood how compare to the book's explanation. Thank you very much!
Thanks! Your explanation is very clear.
Thank you for watching. Best wishes on your economic studies.
Really helpful in making my project related to elasticity total revenue and marginal revenue thank yew so much sir i can easily understand the concept after watching this..... I have only seen your two vedios but its really helpful and the way you tech is really help me to undertake easily ☺️☺️thanks sir
Nice explain 👍
15:58..From what you explain, I don't even understand the difference between Price, Average revenue and Marginal revenue.. all seems the same.. what is the point of having these three if all are the same..
Video is way too long and drawn out! I fell asleep half way through
6x7 not 6x5 !
Hopefully, you found the video useful
I have a question sir.
That,
Is it necessary to draw a column of average revenue before making the marginal revenue column in a table????????????
After watching the video, I don't think it is necessary to put the average revenue column before the marginal revenue column.
Where's the profit at?
How to solve for the profit
Profit=Total Revenue - Total Cost
The easiest way to get MR =
TR ( Total Revenue ÷ TP (Total Product)
Thank you for sharing your suggestion.
Your suggestion is actually the average revenue formula. Unfortunately, it only works for the scenario where the price of the good is constant, that is in perfectly competitive market. In a market with a monopoly, the price declines so the marginal revenue is not equal to average revenue.
Suppose the following:
TP Price TR Average Revenue= TR÷TP Marginal Revenue =(TR2-TR1) ÷ (TP2-TP1) is AR =MR?
1 30 30 30 NA No
2 25 50 25 20 No
3 20 60 20 10 No
4 15 60 15 0 No
If we compare the results of using average revenue formula, as you suggested, and the marginal revenue formula the results are different.
So, I am reluctant to recommend your suggestion to my viewers.
Thank you for your willingness to share your thoughts.
I have a quiz in an hour💀
I hope you were able to pass your quiz.
Thanks I love this video
Thank you for the compliant.
Talks too much. Get to point