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)
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Answer:
True
Explanation:
The internal rate of return defines that return in which the net present value is zero that means the initial investment is equivalent to the present value of the yearly cash flows after considering the discounting factor
In other words we can say that the net present value is zero
Hence, the given statement is true
The answer to the statement is yes. It is because laws are important to promote fairness and peace. Laws are established to get things done in order and in different places and environment, there are different laws to be followed in which the statement above is related to it.
Answer:
Choosing a credit card.
Explanation:
A credit card is a plastic rectangular card issued by financial institutions such as banks, that allows the cardholder to purchase goods or services from merchants on credit.
Credit cards offers it's users convenience to access a line of credit and thus, eliminates the need to carry cash (money) or check around.
The important criteria to consider when choosing a credit card are;
1. Annual Percentage Rate (APR).
2. Credit limit.
3. Penalties and fees.
4. Cash back.
False is the answer to this question.