Table 14-7
Sally owns the only shoe store in town.She has the following cost and revenue information.

-Refer to Table 14-7.What is the marginal revenue from selling the 8th pair of shoes?
A) $10
B) $20
C) $40
D) $90

Question

Table 14-7
Sally owns the only shoe store in town.She has the following cost and revenue information.
 
-Refer to Table 14-7.What is the marginal revenue from selling the 8th pair of shoes?
A) $10 
B) $20 
C) $40 
D) $90

Quizplus · Accepted Answer

To find the marginal revenue from selling the 8th pair of shoes, we need to look at the change in total revenue when moving from selling 7 pairs of shoes to 8 pairs of shoes.

Total revenue from selling 7 pairs of shoes = $220
Total revenue from selling 8 pairs of shoes = $240

Marginal revenue from selling the 8th pair of shoes = $240 - $220 = $20

Therefore, the answer is B.

Table 14-7 Sally Owns the Only Shoe Store in Town.She Has the Has