A) marginal revenue of his 3rd print job is
$3.33
Answer:
When any company wants to sale their product without prior knowledge of the market then it's a disaster.
First thing Jack can do is "Test Marketing". If any company has no knowledge of market then fastest way to know your market is test marketing. Jack must put his sweaters in small quantity for sale at different locations. Test marketing needs to be done for whole week. Jack needs to collect the feedback from its customers too. Feedback is the way jack can know the market. Without knowing the market and customers, it's really hard to market or sale your product. Feedback from test marketing activity will actually give him market knowledge and customer's feedback.
Output and input levels always tend to an equilibrium point it the long run, meaning they are inelastic in the long run.
Elasticity refers to how much supply and/or demand changes with changes in pricing. The more elastic, the more change there is.
In the short-term, output and and supply can change dramatically, but in the long run things tend back to the middle (equilibrium).
The answer should be B..............................................................................
