The following table shows the total revenue (in dollars)and total cost (in dollars)from the production and sale of different units of a product.
Table 2-1

-Refer to Table 2-1.What is the marginal profit of the firm from the sale of the 2nd unit of the good?
A)$9
B)$3
C)$1
D)$5
E)$21

Question

The following table shows the total revenue (in dollars)and total cost (in dollars)from the production and sale of different units of a product.
Table 2-1
 
-Refer to Table 2-1.What is the marginal profit of the firm from the sale of the 2nd unit of the good?
A)$9 
B)$3 
C)$1 
D)$5 
E)$21

Quizplus · Accepted Answer

The marginal profit is calculated as the difference in total profit from selling one more unit. If the profit from selling the first unit is $12 and the second unit is $21, the marginal profit from the second unit is $21 - $12 = $9.

The Following Table Shows the Total Revenue (In Dollars)and Total