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lions [1.4K]
2 years ago
5

Assume that the short-run cost and demand data given in the tables below confront a monopolistic competitor selling a given prod

uct and engaged in a given amount of product promotion. Cost Data Demand Data Total Output Total Cost Quantity Demanded Price 0 $25 0 $60 1 40 1 55 2 45 2 50 3 55 3 45 4 70 4 40 5 90 5 35 6 115 6 30 If the firm sells 3 units of output, marginal revenue will be _______.
Business
1 answer:
sesenic [268]2 years ago
7 0

Answer:

<u>$35</u>

<u>Explanation</u>:

Note the formula:

Total revenue (TR)= Price (P) x Q and Marginal revenue (MR) = Change in TR / Change in Q

<u>Total Revenue for 2 units of output sold</u>

= 2 x $50 = $100

<u>Total Revenue for 3 units of output sold</u>

= 3 x $45 = $135

<u>The Marginal Revenue=</u>

Change in TR (135-100) / Change in quantity (3-2)

= $35/1

= <u>$35</u>

Therefore, the Marginal Revenue If the firm sells 3 units of output, will be $35.

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Answer:

True

Explanation:

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By implementing statistical process control, the goal of eliminating or greatly reducing costly product recalls is realized. This is done by analyzing manufacturing data as it happens so that problems are stopped as they happen—instead of being caught after deployment.

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3 years ago
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Answer:

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3 years ago
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devlian [24]
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slega [8]

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