Professional Courses
Industry-relevant training in Business, Technology, and Design to help professionals and graduates upskill for real-world careers.
Categories
Interactive Games
Fun, engaging games to boost memory, math fluency, typing speed, and English skills—perfect for learners of all ages.
Typing
Memory
Math
English Adventures
Knowledge
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the formula for Total Revenue in a perfectly competitive market?
💡 Hint: Think of how much a firm earns per unit it sells.
Question 2
Easy
Define Average Revenue.
💡 Hint: What happens to TR when you divide it by quantity?
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the formula for Total Revenue?
- TR = Price × Quantity
- TR = Price + Quantity
- TR = Quantity - Price
💡 Hint: Think about how revenue can be calculated.
Question 2
True or False: In a perfectly competitive market, MR equals AR.
- True
- False
💡 Hint: Consider the definition of price-setting behavior in perfect competition.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A firm produces 100 units at a price of Rs 15 per unit. They decide to sell one more unit, raising their total revenue to Rs 1,515. What is the Marginal Revenue for that additional unit?
💡 Hint: Focus on the change in Total Revenue.
Question 2
A company is analyzing its profit-maximizing output. They find that their Marginal Cost for the 10th unit is Rs 20. If they are selling this unit for Rs 25, what should they do?
💡 Hint: Remember the relationship between Marginal Revenue and Marginal Cost for profit maximization.
Challenge and get performance evaluation