If a firm sells 10 units of output at $100 per unit and 11 units of output when price is reduced to $99, its marginal revenue for the last unit sold is
A) $1.
B) $10.
C) $109.
D) $89.
Answer: D
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The above figure shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. If the market is competitive and unregulated, how much steel will be produced?
A) 0 tons B) 2 tons C) 4 tons D) 8 tons
The pure competitor usually charges higher prices and offers more output than the monopolist or oligopolist
Indicate whether the statement is true or false
Steps in performing a cost-effectiveness analysis include all of these EXCEPT
a. ranking the alternative treatment options b. prioritizing the alternative treatment options c. calculating the ICER between each treatment option and the next most expensive one d. eliminate treatment alternatives that are strictly dominated
The abbreviation GATT stands for:
a. General Analysis of Taxes and Transfers. b. General Agreement on Tariffs and Trade. c. Government Agency for Trade and Transportation. d. Government Agency for Treaties and Taxes. e. General Agreement on Terms of Trade.