Answer:
a. Total revenue = Quntity sold * Price per unit
marginal Revenue = TRn - TRn-1
Marginal revenue by definition is the additional income received from the selling of additional unit.
therefore, marginal revenue equal the price of additional unit sold by the firm.
if marginal revenue of 10th unit produced = $41, it means the price per unit equal $41
Total revenue of 10 units = $41 * 10 = $410
Total revenue of 9 units = $41*9 = $369
b. Marginal revenue of 20th product produced = $11
Therefore, price per unit = $11
Total revenue of 20 units produced = $11*20 = $220
Explanation:
Answer:
D)the second-period demand curve will shift substantially to the right.
Explanation:
If monopolist succeeds in selling a sufficiently high quantity in the first period, then in the second period it will further increase and will shift the demand curve to right hand.
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