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:
$1.50 per bag
Explanation:
The price that yields a fair rate of return is also the price that makes economic profit = 0. That sales price = average total cost. So we first must determine total costs for producing 20 million bags:
- total costs = fixed costs + variable costs = $10 million + (20 million x $1) = $30 million
Now we need to determine average total cost:
- average total cost at 20 million bags = $30 million / 20 million bags = $1.50 per bag
I would say D. Review the pros and cons of the different available computers
Answer:S.M.A.R.T stands for Specific Measurable Attainable Realistic and Time frame
The answer is ATTAINABLE
