Jim' burger produces 500 burgers per week. Each burger is priced at $3 . A business ordered 750 burgers for an upcoming event. Jim decided to offer a discount by reducing the price of the burgers to $2.50 for the party. What is the marginal revenue of selling the 50th burger for the party?
a. $3
b. $2.50
c. $0.50
d. It cannot be determined with the information given
b
You might also like to view...
Explain why GDP per capita varies among countries even though countries eventually converge to their balanced growth paths
What will be an ideal response?
Cyclical unemployment refers to the year-to-year fluctuations in unemployment around its natural rate
a. True b. False Indicate whether the statement is true or false
Current critics of fiat money are urging governments to do what?
A. Move to a system of electronic transactions only. B. Return to a gold standard. C. Place limits on the creation. D. Return to a system of legal tender.
Suppose that in Belgium, the opportunity cost of producing a trombone is 8 clarinets. In Denmark, the opportunity cost of producing a trombone is 6 clarinets
a. What is the opportunity cost of producing a clarinet for Belgium? b. What is the opportunity cost of producing a clarinet for Denmark? c. Which country has a comparative advantage in the production of clarinets? d. Which country has a comparative advantage in the production of trombones?