Based on the table below what is the marginal revenue of the 14^th unit of output? $\begin{array}{llcc} \underline{\text { Quantity } }& \underline{\text {Price }} \\13&\$50.00\\14&\$49.75\\15&\$49.50\end{array}$

Question

Based on the table below what is the marginal revenue of the 14^th unit of output?

\begin{array}{llcc} \underline{\text { Quantity } }& \underline{\text {Price }} \\13&\$50.00\\14&\$49.75\\15&\$49.50\end{array}

Quizplus · Accepted Answer

Marginal revenue is the change in total revenue from selling one more unit. The 14th unit sells for $49.75, and the 13th for $50.00, so the marginal revenue is $49.75 - $50.00 = $-0.25. However, the correct calculation should consider the total revenue change, which is $49.75 * 14 - $50.00 * 13 = $696.50 - $650.00 = $46.50.

Based on the Table Below What Is the Marginal Revenue Quantity ‾Price ‾13$50.0014$49.7515$49.50\begin{array}{llcc} \underline{\text { Quantity } }& \underline{\text {Price }} \\13&\$50.00\\14&\$49.75\\15&\$49.50\end{array} Quantity ​131415​Price ​$50.00$49.75$49.50​

Based on the Table Below What Is the Marginal Revenue $\begin{array}{llcc} \underline{\text { Quantity } }& \underline{\text {Price }} \\13&\$50.00\\14&\$49.75\\15&\$49.50\end{array}$