Typed and correct answer please. I ll rate Table 14-6The following table presents cost and revenue information for a firm operating in a competitive industry.COSTSREVENUESQuantityProducedTotalCostMarginalCostQuantityDemanded PriceTotalRevenueMarginalRevenue$100$120$150$1202.$2022$120$257$1204.$3174$120$385$1206$4656.$120$5627.$1208.$6828.$120Refer to Table 14-6. What is the marginal revenue from selling the 3rd unit?O a. $140b.$120Oc. $137O d. $55

Answered: 100 $120 150 1 $120 5202 2 $120 $257 3…

Business

Economics

100 $120 150 1 $120 5202 2 $120 $257 3 $120 5317 4. $120 $385 5. $120 $465 6 $120 $562 $120 $682 8 $120

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 3P

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Typed and correct answer please. I ll rate

Table 14-6
The following table presents cost and revenue information for a firm operating in a competitive industry.
COSTS
REVENUES
Quantity
Produced
Total
Cost
Marginal
Cost
Quantity
Demanded Price
Total
Revenue
Marginal
Revenue
$100
$120
$150
$120
2.
$202
2
$120
$257
$120
4.
$317
4
$120
$385
$120
6
$465
6.
$120
$562
7.
$120
8.
$682
8.
$120
Refer to Table 14-6. What is the marginal revenue from selling the 3rd unit?
O a. $140
b.$120
Oc. $137
O d. $55

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