Business Economics

2. X

3. Measurements of Revenue
TR = PxQ
AR = TR/Q or AR = (P x Q)/Q
MR = ΔTR/ΔQ = TRn – TRn-1

4. Revenue schedule
Q d TR (000) AR MR (000)
1 10 10
2 18 9 8
3 24 8 6
4 28 7 4
5 30 6 2
6 30 5 0
7 28 4 -2
8 24 3 -4
9 18 2 -6
10 10 1 -8

5. TR

6. Various forms of Market

13. Price and Output Determination under Perfect Competition

14. Price and Output Determination under Monopoly

15. Price-output determination under Monopolistic Competition: Equilibrium of a firm

16. Price-output determination under Oligopoly: Equilibrium of a firm