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Assuming that it is necessary to reduce the unit price to increase the sales volume and that all units have to be sold at the same price, can you complete the following table to identify the Total Revenue, the Average per unit, and the Marginal Revenue from sale of product "X" based upon the information in the table (A ) below.
Table A
Sales (Units)
Price per unit £
Total Revenue (TR) £
Average Revenue (AR)£
Marginal Revenue (MR) £
1
100
2
3
4
90
5
80
6
70
7
60
8
50
9
40
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