Suppose a local food truck, representing a small part of an overall very large market, can sell 20 hamburgers for $100 total and can sell 30 hamburgers for $150 total. Which of the following is NOT true?

A. The total revenue of the 20th hamburger is $5.
B. The price of a hamburger is $5.
C. The marginal revenue for the 30th hamburger is $5.
D. The marginal revenue for the 20th hamburger is $5.


Answer: A

Economics

You might also like to view...

Net exports are a ____ proportion of GDP and have recently been ____ for the United States

a. small; positive. b. small; negative. c. large; positive d. large; negative.

Economics

Why does the commercial value of ivory threaten the elephant, while the commercial value of beef protects the cow?

Economics

A recent flood in the Midwest has destroyed much of the farmland that lies in fertile regions near the rivers. Describe the effect of the flood on the marginal productivity of land, labor, and capital. How would the flood affect the price of inputs? Provide some examples

Economics

A theory is an abstract representation of reality. This means a theory

A) is descriptive of the way the world is. B) is an unrealistic representation of reality. C) omits certain factors when trying to explain something. D) is usually expressed in professional jargon. E) none of the above

Economics