If a local car dealership can sell 8 cars per day at a price of $25,000 each, but must reduce the price to $24,000 to sell one more car, what is the marginal revenue of the 9th car?
A. $216,000.
B. $16,000.
C. -$1,000.
D. $24,000.
Answer: B
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Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The two reasons a nation like Alphonia would dump products in another nation are
A) import licensing and outsourcing. B) price discrimination and import licensing. C) price discrimination and predatory pricing. D) outsourcing and predatory pricing.
The figure above shows the production possibilities frontier for a country. If the country is producing at point D, then the
A) resources are being used efficiently. B) technology associated with producing SUVs and compact cars is advancing. C) resources are not being used efficiently and/or are unemployed. D) production of SUVs and compact cars is maximized. E) None of the above answers is correct because it is not possible to produce at point D.
Among the state nonmember banks, __________ have federal deposit insurance through the FDIC
A) all B) virtually all C) a minority D) none of them
Assume the United States is considering either a tariff or a quota to protect motorcycles
For each of the following groups, list whether they should prefer either the tariff or the quota, or be indifferent between the two: importer of motorcycles, taxpayers, foreign producer of motorcycles.