A firm produces heavy machinery and can sell 10 units per month at a price of $50,000.To increase sales to 11 units per month,the firm must cut its price to $46,000.The marginal revenue for selling one extra unit per month is
A) $363.
B) $4,000.
C) $4,182.
D) $6,000.
E) $46,000.
Correct Answer:
Verified
Q13: The monopolist faces a demand curve that
Q14: As a monopolist facing a downward-sloping demand
Q15: The following question are based on the
Q16: The patent system is based on the
Q17: The calculation of marginal revenue is best
Q19: The following question are based on the
Q20: Marginal revenue
A) generally rises as output increases.
B)
Q21: When marginal revenue exceeds marginal cost,a monopolist
Q22: In the long run,a monopolist incurring short-run
Q23: Compared to a perfectly competitive industry in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents