Mathematics
02.10.2022 03:51
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Based on this chart, what is the marginal revenue, in dollars, at quantity three
Based on this chart, what is the marginal revenue, in dollars, at quantity three jackets? select one:
a. four
b. 11
c. 16
d. 36
Show Answers
a. four
b. 11
c. 16
d. 36
jamalchris9353
4,5(40 marks)
Marginal Revenue is the rate of change of Total Revenue.
So when we want to know the marginal revenue at a certain quantity, we check by how much the total revenue changed from the previous quantity unit.
For example, looking at the table,
At quantity 1, the total revenue is 20.At quantity 2, the total revenue is 38.At quantity 3, the total revenue is 54.So the marginal revenue at quantity 2 is the difference between total revenue of quantity 2 with the previous quantity (which is quantity 1). So,
Similarly, the marginal revenue at quantity 3 is the difference between total revenue of quantity 3 with the previous quantity (which is quantity 2). So,
Our answer is 16, option C.
ANSWER: C
princesskoi1910
4,4(53 marks)
B
Step-by-step explanation:
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