Economics Past Questions and Answers

The table below shows the total revenue schedule of a firm. Use the information to answer the question that follows<br/><table class='tbn'><tbody><tr><td> Output (units) </td><td> 50 </td><td> 60 </td><td> 70 </td><td> 80 </td><td> 90 </td></tr><tr><td> Total revenue (TR) $ </td><td> 85 </td><td> 102 </td><td> 119 </td><td> 136 </td><td> 153 </td></tr></tbody></table><br/><br/><br/>What is the firm's marginal revenue?

The location of iron and steel industry at a place is due to ____________

Import substitution as a strategy of industrialization is the ____________

Which of the following are intermediate products?

How is NNP at factor cost derived from GNP at market prices?