When TR is maximum, MR = 0. Give very short answers: Define cost. Exercise: One Write the formula of total cost, marginal cost and average cost. A. 1. 2. 3. 4. Define revenue. 5. What is marginal revenue? جا 89 6. What is marginal cost? What is average revenue? If the total cost is Rs.1500 to produce 50 units of a commodity, find the average cost. A firm earns Rs.100/- by selling 10 units of output. If his revenue increases up to If the total cost Rs.1000/- to produce 50 units of commodity, find the average cost. Rs.110/- by selling one additional output, find the marginal revenue . 16 | Cost and Revenue Curves​