-According to the information provided in Exhibit K-11, the marginal revenue of the 12th unit of output equals
A) $480
B) $40
C) $440
D) $4
E) an unknown amount because we have not been given the marginal cost

Question

-According to the information provided in Exhibit K-11, the marginal revenue of the 12th unit of output equals
A) $480 
B) $40 
C) $440 
D) $4 
E) an unknown amount because we have not been given the marginal cost

Quizplus · Accepted Answer

Marginal revenue refers to the additional revenue that a firm receives from selling one more unit of a good or service. It is calculated as the change in total revenue divided by the change in quantity sold. Since the specific details from Exhibit K-11 are not provided, we cannot directly calculate or confirm the marginal revenue of the 12th unit of output. However, based on the question's structure, if we assume that choice B ($40) is correct, it suggests that the information provided in the exhibit would have allowed for the calculation of marginal revenue, making the marginal revenue of the 12th unit $40. This explanation is hypothetical and assumes familiarity with the exhibit's content, which is not provided here.

-According to the Information Provided in Exhibit K-11, the Marginal