Answer question 49 QUESTION 49The following table of data represents a business in operation. What is the marginal revenue obtained from selling the 4tn unit?Output3456Total Revenue 05090120140150150140120Total Costs10305585120160205255310O A. £60O B. E140O C. E35O D.E20

Marginal revenue is the change in the total revenue that results from the sale of an additional unit…

Answered: . What is the marginal revenue obtained…

Business

Economics

. What is the marginal revenue obtained from selling the 4th unit?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 40P: Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from...

See similar textbooks

Related questions

Q: Given the data in the table, what is the marginal revenue when the 15th unit is sold?

A: Marginal revenue is the ratio of change in total revenue and change in quantity. Total revenue =…

Q: 4. 16 where q is the firm's output. (i) Determine the level of output for average costs are minimum.

A: "Since you have asked multiple parts, we will answer only the first part for you. If you have any…

Q: Calculate marginal profit if :- Marginal revenue = $38 Marginal cost = $30

A: The data presented in the question above is:- Marginal revenue = $38 Marginal cost = $30 We have…

Q: (b) (i) Consider total cost and total revenue given in the following table: Quantity Total Cost ($)…

A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs…

Q: OSee Hint The total cost of Mr. Plow, a snow-removal business, is given in the table below. Quantity…

A: The profit can be calculated by deducting total cost from total revenue as follows:

Q: Figure: The Perfectly Competitive Firm Price (per unit) MC ATC $3.00 788 1.00 400 250 300 Output…

A: The perfect competition is the form of market consist of large number of buyers and sellers, selling…

Q: 6. Assume a perfogly competitive firm incurs a total cost of $10,000, marginal cost of $38, and…

A: Profit refers to the amount of revenue earned over and above the total cost that a producer or…

Q: 6. Acompany in a pertectly competitive market has a total cost function given as: 40 0 TC 50 of a…

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,…

Q: 2, Basıd on the following informātion , state whathez the profit maximyang on loss minimjang…

A: profit maximization is the short run or long run process by which a firm may determine the price,…

Q: Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs…

A: "Since you have posted a question with multiple sub-parts, we will solve the first three subparts…

Q: Can the marginal revenue be negative??? True/False

A: Marginal revenue refers to the amount of additional revenue thay a producer gets when he produces…

Q: 3. The figure below shows short run cost and revenue curves firm. Price and cost per unit MC £5 ATC…

A: 3) The curve shows the demand and MR curves along with the cost curves.

Q: 1. Suppose the total cost to a firm of producing a quantity q of some commodity is C(4) - 490 + 20g…

A: a) The marginal cost of the firm can be calculated through the derivation of the cost function with…

Q: Assume that the most efficient production technology available for making vitamin pills has the cost…

A: a) Output TC MC ATC 25400 104000 0.54 104000/25400= 4.09 50400 154000 1.04 154000/50400= 3.05…

Q: Calculate the value of Marginalr revenue when change in total revenue is $310 and the change in…

A: The data presented in the question above is:- Change in total revenue = $310 Change in output = 5…

Q: The market for apple pies in the city of Ectenia is competitive and has the followingdemand…

A: a. It is known that the marginal cost which shows the additional rise in cost due to the production…

Q: What is the Total Revenue from selling 3 units? What is the Marginal Revenue from selling the 3rd…

A: A monopolist is an individual seller who has complete control over the market. In a monopolistic…

Q: 5. If a firm shuts down temporarily, it will incur loss equal to

A: To find : How loss will incur if firm shut down temporarily.

Q: Fatima sells 100 bottles of homemade ketchup for $ 10 each. The cost of the ingredients, the…

A: Answer: Given, Total number of bottles sold= 100 Price of a bottle=$10 Cost of ingredients, the…

Q: .Mr.Ying is starting a telephone company. The marginal cost for each cell phone is given by the…

A: Given Information , Marginal Cost : C(x) = 0.01x2 + 3x + 229 Marginal Revenue : R(x) = 429 - 2x…

Q: a) Suppose the average total cost (ATC) of a firmis given as 4 ATC = Q +-2 Find the output(Q) that…

A: Total cost is average total cost multiplied by quantity. Marginal cost is the change in total cost…

Q: b. Under which condition marginal revenue can be negative? Explain with the help of an example. only…

A: Marginal revenue is less than the average revenue and may even be negative when a corporation faces…

Q: QUESTION 10 State the difference between Total Reveune (TR) and Marginal Revenue *MR). When MR will…

A: Economics deals with the study and allocation of scarce resources among individuals with unlimited…

Q: Find the marginal revenue at a próduction

A: Given - P = 400 -0.2x Where P is price and x is quantity

Q: 7. Refer to Table 14-14., What is Bob's total fixed cost? $0 $3 $5 $9 a. b. с. d. Refer to Table…

A: Profit is maximized when P >= MC, where MC = Change in TC / Change in Q When Q = 6, MC = (15.5 -…

Q: The following data refers to the revenue and costs (in million rupees) of a firm. Output (units)…

A: Answer:-

Q: Figure 8-1 $30 MC ATC 20 -AVC 10 4 6. Quantity What is the firm's total cost in Figure 8-1 when it…

A: Average total cost (ATC): ATC is the total cost per unit of output. It can be express as: ATC = TC/Q

Q: 8. Daisy's Doggie Treats has a marginal profit function given by m(x) = 0.34e0.02x dollars per bag…

A: Given that marginal profit function m(x) = 0.34e0.02x/ bag If production sales increase to 250 bags…

Q: Priee (Rials per unit) ATC 1sis 10 27. In the above figure, at a price of R0 7. the firm's output…

A: An economic profit is earned by a firm, if Total Revenue (TR) = P X Q, is greater than the Total…

Q: s coincid

A: The marginal revenue curve is a horizontal line at the market price which implies perfectly elastic…

Q: Consider total cost and total revenue given in the following table: Quantity 0 1 2 3 4 5 6 7…

A: A cost refers to the expenditure required to manufacture or sell a product or get an asset ready for…

Q: AR Q 4- The average cost and average revenue functions for a particular brand of mobile phone are…

A: The cost structure of a firm plays an important role in determining the profits of a firm. Lower the…

Q: what is the marginal revenue for this chart

A: Marginal revenue is defined as the revenue generated from the selling some extra units services and…

Q: 12. Suppose a farm in a perfectly competitive marke: produces and sellsa unis bl ou qutput and…

A: Given, Q=8 units (as 8 units are produced and sold), Marginal Revenue (MR)=RO 8

Q: MC Price (Rials per anit) ATC 1012 15 16 IS 16 Quantity (units) 17. In the above figure, at a price…

A: As shown in diagram at price 5 the, firms output would be 12 units. This is because at price 5 the…

Q: 3 The figure below shows the cost curves for a profit-maxmizing firm in a periecny competitive…

A: Variable cost are the costs that proportionally change with the changes in the activity base such as…

Q: Define the excess capacity and calculate it from a graph. Define a mark-up and calculate it from a…

A: Solution: Capacity Excess: It refers to the difference between optimum output and the output…

Q: Price (Rials NC ATC per unit MC ATC ANCAVC 5 10 15 16 15 6 22 In the above figure, at a price of RO…

A: A firm earns an economic profit if Total Revenue (TR) = P X Q, is greater than the Total Cost (TC) =…

Q: 8.13 The entire city was essentially shut down for the past two days be- use of an ice storm.…

A: Hi! Thank you for the question but as per the guidelines, we only answer one question at a time so I…

Q: a. Johnson's pig farm faces a demand curve given by Q = 40 - 2P and has a constant marginal and…

A: Total revenue is the product of price and quantity. Marginal revenue is the increase in total…

Q: (a) The marginal cost of two firms are given by the following Firm 1: C'(Q) = 300eº1Q+2 TC= 3000…

A: The marginal cost (MC) is the incremental cost incurred when the firm produces one additional good…

Q: 10. When a perfecly competitive firma finds that its market price is beloww its minimum average…

A: For a perfectly competitive firm MR=MC=P.

Q: (1) The revenue for a product is R(x) = -0.004x? + 21x 6200 and the cost is C(x) = 0.02x + 38, for x…

Q: Calculate marginal Revenue if it's given:- Change in total revenue = $350 Change in output = 20…

A: The data presented in the question above is:- Change in total revenue = $350 Change in output = 20…

Q: 3) A firm produces 50 000 boxes in one month and market price of these shoes is 10 TL per box. The…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: Refer to the table. If the firm produces 5 units that it sells at a price of $30.00 each, what will…

A: Use the below formula to find the profit and loss: Profit / Loss = Total Revenue - Total CostTotal…

Q: Price, MR, AR, Costs MC in Dollars ATC $7.00 AVC $6.00 D (AR) The total maximum economic profit in…

A: Option (d) is correct.

Q: (1) The revenue for a product is R(x) = -0.004x? + 21x – 6200 and the cost is C(x) = 0.02x + 38, for…

A: Given : Revenue function : R(x) = -0.004x2+21x-6200 Cost Function : C(x) = 0.02x+38

Q: Consider the total cost and total revenue given in the following table: Quant Total Total Prof…

A: Give firm has costs and revenues for different levels of output.

Question

Answer question 49

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1 MARGINAL REVENUE

VIEW

Step 2 ANSWER

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from 4 to 5 and from 5 to 6? Does it continue the pattern of diminishing marginal returns? Figure 7.7 How output Affects Total costs
The WipeOut Ski Company manufactures skis for beginners. Fixed costs are 30. Fill in Table 7.16 for total cost, average variable test, average total cost, and marginal cost.
What are diminishing marginal returns as they relate to costs?
Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?
Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. Your aunt’s opportunity costs comprise * If your aunt thought she could sell $510,000 worth of merchandise in a year, what is your aunt’s accounting profit? *$10,000-$40,000$460,000$0Given the above situation, what is your aunt’s economic profit? *$10,000-$40,000$460,000$0
(1) The revenue for a product is R(x) = −0.004x2 + 21x − 6200 and the cost is C(x) = 0.02x + 38, for x units produced and sold.(a) Find the marginal profit for 2800 units.(b) Should output be increased or decreased to generate a higher profit?
A computer company produces affordable, easy-to-use home computer systems and has fixed costs of $250. The marginal cost of producing computers is as indicated below. Output Fixed Cost Variable Cost Total Cost Marginal Cost Average Cost Average Variable Cost 1 $250 $700 $950 $700 2 $250 $925 $1175 $225 3 $250 $315 4 $250 $360 5 $250 $400 6 $250 $450 7 $250 $550 If the company sells the computers for $550, is it making a profit or a loss? How big is the profit or loss? If the firm sells the computers for $315, is it making a profit or a loss? How big is the profit or loss? We expect the marginal cost to increase as this firm produces more computers. But when the firm shifts from producing 1 to 2 computers, marginal cost falls. What might explain this?
. Joe quits his computer programming job, where he was earning a salary of $60,000per year, to start his own computer software business in a building that he owns andwas previously renting out for $24,000 per year. In his first year of business he has thefollowing expenses: salary paid to himself, $40,000; rent, $0; other expenses, $25,000.Find the accounting cost and the economic cost associated with Joe’s computer softwarebusiness.
An web designer quits a project where she was paid $50,000 on completion of the project. She joins a new company with sales revenues of $550,000 last year, while spending $250,000 on compensation for employees (excluding the owner), $70,000 on capital, and $30,000 on materials. What was the firm’s economic profit? A) 25,000 B) 100,000 C) 150,000
Vicky quit her $ 75, 000 a year marketing executive job to open her own firm. In Vicky's first year in business her total revenue equaled $ 180,000. Vicky's explicit cost during the year totaled $ 80,000. To start her business Vicky took $ 50,000 from her savings account that was paying an interest of 10% annually. What is her economic profit for her first year in business? A. -$26,000 B. -$ 25,000 C. $ 25,000 D. $ 24,000
WHat happens when a company does not follow economic heory and charges prices below the marginal revenue point or whenit does not realize the economies of scales????Curious. Please explain. Not a graded question. I need an explanation