Table 13-1

-Refer to Table 13-1.What is the marginal revenue of the 3rd unit?
A)$6.50
B)$5.50
C)$1.83
D)$0.50

Name: Table 13-1 -Refer to Table 13-1.What is the marginal revenue of the 3rd unit? A)$6.50 B)$5.50 C)$1.83 D)$0.50
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Question

Table 13-1
 
-Refer to Table 13-1.What is the marginal revenue of the 3rd unit?
A)$6.50 
B)$5.50 
C)$1.83 
D)$0.50

Quizplus · Accepted Answer

Marginal revenue is the change in total revenue from selling one more unit. If the table shows that the total revenue increases by $5.50 when the 3rd unit is sold, then the marginal revenue of the 3rd unit is $5.50.

Table 13-1 -Refer to Table 13-1.What Is the Marginal Revenue of the Marginal