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NemiM [27]
2 years ago
14

Suppose a monopoly firm produces bicycles and can sell 10 bicycles per month at a price of $700 per bicycle. In order to increas

e sales by one bicycle per month, the monopolist must lower the price of its bicycles by $50 to $650 per bicycle. The marginal revenue of the 11th bicycle is Group of answer choices -$50 None of the Answers are Correct. $7,150 $150 $50
Business
1 answer:
ELEN [110]2 years ago
6 0

The marginal revenue of the 11th bicycle is $150.

Calculation of Marginal revenue:

Change in Total Revenue = Total Revenue – Revenue figure before the additional unit was sold

Marginal revenue  = (11*700) - (10*701)= $150.

<h3>What is Marginal revenue ?</h3>

Marginal revenue is the rise in income that occurs from the sale of one extra unit of product. While marginal revenue can continue constantly over a particular level of output, it follows the law of diminishing returns and will ultimately decrease as the output level increases. Ideally, ambitious firms proceed to produce output until marginal revenue approaches marginal cost.

The formula for calculating marginal revenue is:

Marginal Revenue= Change in Revenue/ Change in Quantity

Marginal Revenue = (Current Revenue - Initial Revenue) / (Current Product Quantity - Initial Product Quantity)

Learn more about Marginal Revenue on:

brainly.com/question/13251693

#SPJ4

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Note: This question is not complete as it does not include the options. The complete question is therefore presented before answering the questions follows:

Nancy sold three capital assets that were held for investment. She sold stock in ABC Corporation for a gain of $10,000; stock in XYZ Corporation for a gain of $2,000; and corporate bonds for a loss of $20,000. Assuming all of the investments had a long-term holding period, how will the transactions be treated for tax purposes?

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The explanation to the answer is therefore presented as follows:

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Gain from the sale of stock in ABC Corporation          10,000

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