Total revenue for producing 30 units of output is $92. Total revenue for produci

Question

Total revenue for producing 30 units of output is $92. Total revenue for producing 31 units of output is $93. Given this information, the__________ PLEASE EXPLAIN

marginal revenue for producing the 31st unit is $92.

average revenue for producing 31 units is $93.

marginal revenue for producing the 31st unit is $93.

average revenue for producing 31 units is $3

marginal revenue for producing the 31st unit is $92.

average revenue for producing 31 units is $93.

marginal revenue for producing the 31st unit is $93.

average revenue for producing 31 units is $3

Explanation / Answer

Answer
Option D
marginal revenue of n th unit=total revenue of n units - total revenue of n-1 units
=93-92=$1
average revenue=total revenue/quantity
=93/31
=$3

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