Blair Housewares wants to add new products to its existing line of products. Managers are correct in believing that the purpose
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The marginal revenue is $0.5 which is being earned if the company sells one more pencil.
<h3>What is total revenue?</h3>Total revenue is the amount being obtained by the firm after selling the goods and services in the market.
Given values:
Quantity sold: 10,000 units
Marginal quantity: 10,001 units
Equilibrium price: $0.50
Computation of marginal revenue earned:
Therefore, when the company sells one more pencil then it earned a marginal revenue of $0.50.
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