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WAEC Economics 2020 Paper

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Question : 21

Total: 48

The table below shows the total revenue schedule of a firm. Use the information to answer the question that follows

\$153.00
\$17.00
\$1.70
\$O.80

Solution:

Marginal revenue = the change in total revenue divided by the change in total output quantity.

MR = $\;\frac{17}{10}$ = \$1.7

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