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slavikrds [6]
3 years ago
13

Calculate the total revenue if the firm produces 10 versus 9 units. Then, calculate the marginal revenue of the 10th unit produc

ed. The marginal revenue of the 10th unit produced is
Business
1 answer:
lana66690 [7]3 years ago
8 0

Complete Question:

If the price of an item is $3 per unit, calculate the total revenue if the firm produces 10 versus 9 units. Then, calculate the marginal revenue of the 10th unit produced. The marginal revenue of the 10th unit produced is ...

Answer:

a) The total revenue for 10 units = $30 ($3 * 10)

   The total revenue for 9 units = $27 ($3 * 9)

b) The marginal revenue of the 10th unit produced is $3 ($30 - $27).

Explanation:

a) Total revenue is a function of the selling price per unit and the quantity or units of sales.  For example, if a firm sells 5,000 units of its vehicle component at a unit price of $56, the total revenue will equal $280,000 (5,000 * $56).

b) The marginal revenue is the additional revenue that results from the sale of one additional unit of a product.  Another way of computing the marginal revenue is to divide the change in total revenue by the change in total output quantity.  This implies that marginal revenue is the additional price per unit of sales.

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your method was incorrect.

the correct answer is:

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3 years ago
Some states don't allow teacher aides to A. take attendance. B. monitor the halls. C. supervise a bus. D. aid in instructing a c
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If we assume that both countries specialize according to their comparative advantage, then how do we find a terms of trade that
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Answer:

The best way to find terms of trade that will ensure that two entities are in the best terms of trade will be to look at the opportunity costs of the various products they produce.

A high opportunity cost in one product relative to that of the other entity means the entity with the higher opportunity cost should be trading with the entity with the lower opportunity cost and vice versa.

For example, assume that an entity "A" produces both rice and beans whilst an entity "B" also produces rice and beans too.

If the opportunity cost to A of producing Beans is 300 bags of rice whilst the opportunity cost to B of producing Beans is 120 bags of rice, and the opportunity cost to A of producing rice is 180 bags of beans whilst it is 250 bags of beans to B, the principles of comparative advantage require that A should focus more on producing rice and purchase beans from B whilst B should focus more on producing beans and purchase rice from A.

Cheers!

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