Question

Dani sells roses in a competitive market where the price of a rose is $8. Use this information to fill out the revenue columns in the table below

Answer 1

Filling the total revenue, average revenue, and marginal revenue table for Dani is as follows:

Quantity       Total revenue ($)      Average revenue      Marginal revenue

of roses  

1                             $8.00                      $8.00                        $8.00

2                           $16.00                      $8.00                        $8.00

3                          $24.00                      $8.00                        $8.00

4                          $32.00                      $8.00                        $8.00

5                         $40.00                       $8.00                       $8.00

How to calculate the different revenues?

• Total revenue = Quantity x Sales Price
• Average revenue = Total revenue/Quantity
• Marginal revenue = Difference between Initial Revenue and Current Revenue

Data and Calculations:

Quantity       Total revenue ($)      Average revenue      Marginal revenue

of roses  

1

2

3

4

5

Price per rose = $8

Thus, when Dani sells 5 units of roses, he will get a total revenue of $40, though the marginal and average revenues remain at $8, respectively.

Learn more about marginal and average revenues at brainly.com/question/25623677