Table 14-2
The following table presents cost and revenue information for Soper's Port Vineyard.

-Refer to Table 14-2.Consumers are willing to pay $120 per unit of port wine.What is the marginal revenue from selling the 3rd unit?

Question

Table 14-2
The following table presents cost and revenue information for Soper's Port Vineyard.
 
-Refer to Table 14-2.Consumers are willing to pay $120 per unit of port wine.What is the marginal revenue from selling the 3rd unit?

Quizplus · Accepted Answer

Marginal revenue is the change in total revenue from selling one more unit. In this case, the marginal revenue from selling the 3rd unit is $120, since the price per unit is $120.

Table 14-2 The Following Table Presents Cost and Revenue Information for Soper's