The table given below shows the price of each unit of the product manufactured by a firm and the marginal cost of producing different units of the output.Table: 10.1

-According to the information in Table 10.1, the marginal revenue of the firm:

Question

The table given below shows the price of each unit of the product manufactured by a firm and the marginal cost of producing different units of the output.Table: 10.1
 
-According to the information in Table 10.1, the marginal revenue of the firm:

Quizplus · Accepted Answer

Marginal revenue is the additional revenue that a firm receives from selling one more unit of a good or service. If the marginal revenue is stated to be equal to $1 at all levels of output, it means that for every additional unit sold, the firm's revenue increases by exactly $1, regardless of the level of output. This is a specific characteristic that can be determined without needing to see Table 10.1, as the question implies this is a given fact in the scenario.

The Table Given Below Shows the Price of Each Unit