Answered Essay: Complete the following table showing the demand for snow skiing lessons per day. Do this by filling in the values for

Complete the following table showing the demand for snow skiing lessons per day. Do this by filling in the values for






per Day​ (Q)

Price​ (P) Total Revenue

​ (TRequals=P times ×​Q)

Average Revenue


Marginal Revenue

​(MRequals=Upper DeltaΔ​TR/Upper DeltaΔ​Q)

0 ​$9090 ​$00 long dash— long dash—
1 8484 8484 ​$8484 ​$8484
2 7878 156156 7878 7272
3 7272 ​(i) 7272 6060
4 6666 264264 6666 4848
5 6060 300300 ​(ii) 3636
6 5454 324324 5454 2424
7 4848 336336 4848 1212
8 4242 336336 4242 ​(iii)

​(i) Total revenue for 3 lessons is

​$nothing .

Expert Answer


As per the given trend for Total Revenue; Total Revenue for Day 3 = 72*3 72*3 = 216216

The answer for i = 216216

The answer for ii = 6060 (average revenue = price)

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