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#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Total revenue increases from TR1 to TR2 when price increases from 100 to 200. At a price of 100, total revenue at 10 units is 1,000; however, at a price of 200, total revenue would be 2,000 for 10 units.
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Exhibit 5. Total Revenue, Average Revenue, and Marginal Revenue under Perfect Competition
demand and supply factors cause a change in price. For instance, if price increases to 200 because of an increase in market demand, the firm’s demand curve shifts from Demand 1 to Demand 2 with corresponding increases in MR and AR as well. <span>Total revenue increases from TR 1 to TR 2 when price increases from 100 to 200. At a price of 100, total revenue at 10 units is 1,000; however, at a price of 200, total revenue would be 2,000 for 10 units.<span><body><html>
Exhibit 5. Total Revenue, Average Revenue, and Marginal Revenue under Perfect Competition
demand and supply factors cause a change in price. For instance, if price increases to 200 because of an increase in market demand, the firm’s demand curve shifts from Demand 1 to Demand 2 with corresponding increases in MR and AR as well. <span>Total revenue increases from TR 1 to TR 2 when price increases from 100 to 200. At a price of 100, total revenue at 10 units is 1,000; however, at a price of 200, total revenue would be 2,000 for 10 units.<span><body><html>
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