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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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Mamont248 [21]

Answer: The correct answer is "d) The supply of bubble tea will decrease.".

Explanation: If everything else remains constant: An increase in the price of tapioca flour causes producers a higher cost, therefore this higher production cost will cause a decrease in supply.

4 0
3 years ago
What type of advertising communicates the specific features, values, and benefits of a product offered by a particular company?
steposvetlana [31]

Answer:

c. brand advertising

Explanation:

<em>c. brand advertising </em>

It engage the consumer to purchase the product or service being advertised.

a. internal advertising

this adverize is done to hire vacants inside the company instead of hiring from utside the company

b. corporate advertising

Is done to put into radar of consumer the entire organization or company. It d not advertize for an individual brand or product.

d. institutional advertising

It is done to focus on the benefits, ideas, or philosophies of the organization. It is done to iprove the reputation. It buils positive image. It do not sale a product or service.

8 0
3 years ago
You are planting seeds in a vegetable garden. According to the instructions on the seed​ packet, the seeds should be placed​ 12"
Leokris [45]

Answer:

A) the range of variation

Explanation:

In statistics, the range is a measure of variation which includes the highest value and the lowest value, in other words, the extreme points.

In this case, the range of variation represents the extreme points at which it is OK to plant our seeds. If we plant seeds more than 13" apart then we aren't doing it correctly, the same if we pant them less than 11" apart.

6 0
3 years ago
Uncollectible accounts are determined by the​ percent-of-sales method to be ​% of credit sales. How much is​ uncollectible-accou
lesya [120]

Answer:

$1,160

Explanation:

<em>Hie, I have attached the full question as an image below.</em>

The firm usually makes provision for certain amounts so as not to overstate their profits. This expected as it is prudent than reporting profits that might never occur. Provisions of Uncollectible accounts are examples of such amounts.

An increase in Uncollectible amount compared to the opening balance is treated as an Expense in the Income Statement whilst a decrease is treated as an Income.

For this question, we are told that Uncollectible accounts are determined by the​ percent-of-sales method to be ​4% of credit sales. Thus calculation of the 2012 uncollectible-account expense is as follows :

Credit Sales - 2012 = $44,000

Beginning Balance in allowances = $600

Therefore,

Uncollectable Amount (2012) = Credit Sales x percent-of-sales

                                                 = $44,000 x 4%

                                                 = $1,760

The Uncollectable amount has increased by $1,160 ($1,760 - $600)

Conclusion :

The collectible-account expense for 2012 is $1,160

 

7 0
3 years ago
A rule of nature that tells you what will happen under certain conditions is a
Naddik [55]

I guess the correct answer is Scientific Law.

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5 0
3 years ago
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