Answer the following question according Table 1 below. What is the average revenue from selling the 3rd unit?QuantityProducedMarginal CostMarginalTotal CostPriceTotal RevenueRevenue$100$120--1.$150$1202$202$1203$257$1204$317$1205$385$1206$465$120$562$1208$682$120Select one:a.$120b.$60c.$197d.$125

Average revenue is defined as the revenue that is generated by selling per unit of output. Average…

Answered: Is the average revenue selling the

Business

Economics

Is the average revenue selling the

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter12: Medicare

Section: Chapter Questions

Problem 1QAP

See similar textbooks

Related questions

Q: 7th

A: The LM curve shows the direct relationship between interest rate and output. The LM curve is upward…

Q: Make necessary Graph Chart of Highlight definiation with labels

A: Answer: In the first case, the relationship between the two substitute goods is shown. Let the two…

Q: explain segmented bar chart

A: Bar charts: It refers to the chart in which the data is shown with the help of rectangular bars.…

Q: A. Describe how a set of data can be represented in graphical form as frequency polygon. B. Table 3…

A: Since you have posted a question with multiple subparts we will solve first three subparts for you.…

Q: a. Calculate MC and MR.

A: Since you have posted a question with multiple sub-parts. We will solve the first part for you. To…

Q: Kem operates a bakery. Her average revenue generated is $30 and the total sales she did were 50…

A: The information being given is:- Average revenue for Kem's bakery= $30 Total sales = 50 units We…

Q: Give a brief analysis of the data found in the chart created

A: The given chart indicates the sources of revenue for KPT Enterprises for the year ended. The…

Q: QUESTION 8 The symbol N means "or" "and"

A: The option is: Option1: "or" Hence, The symbol ∪ means or .

Q: Analyse the PESTEL of 3 countries Nigeria, Mexico vs Philippines

A: PESTEL analysis: It refers to the analysis under which the firm is able to know about their…

Q: Questions solve 3 others downvote

A: The demand (dd) for a commodity shows the quantity that the consumers desire to purchase at the…

Q: Give ans for question 6

A: a. i) If the income is $10,000, then the price of the good is increased from $8 to $10, and the…

Q: 0*Y+ 100 0*Y+ 80 0*Y+ 80

A: Given that, MPS is 0.80 Autonomous consumer spending is 100, We have to calculate aggregate…

Q: eturns to scale

A: Option (A). Q = 5L2 + 4K3/2L When both inputs are doubled, new production function is Q* = 5 x (2L)2…

Q: Differentiate the function f(t) = - 2t° + 5t + 4 f'(t) = |

A: The differentiation of a constant times a function is equal to constant times the deriv of the…

Q: The value of Total revenue is $400 and the average revenue is $40 Calculate the output

A: # if we are given the value of total revenue and average revenue then we can easily calculate the…

Q: This is the answer.. plz write in hand written

A: As asked the hand written answer is provided below.

Q: A firm collect $300 by selling 5 bicycle and collect $330 by selling 6 bicycle. Calculate the…

A: The selling price of 5 units (bicycle) = $300 The selling price of 6 units (bicycle) = $330

Q: show graph for the following, thanks

A: In the mentioned question we have been asked to carve the variable cost, total cost function on the…

Q: What is the Excel method?

A: Excel is a computer spreadsheet program that consist of rows and columns. Excel is used to store…

Q: Task II: A. Describe how a set of data can be represented in graphical form as frequency polygon. B.…

A: A frequency polygon is a graphical representation of data, which is obtained by joining the…

Q: Alejandro is selling HDMI cables on eBay, and is trying to determine the best price to sell at. For…

A: The supply curve shows the positive relationship between price of the good and its quantity…

Q: A measure calculated by taking the ratio of output to input.

A: Inputs are the resources hired for running the production process and it includes resources like…

Q: The total revenue generated is $400 and the output is 12 units Find the value of average revenue

A: The information being given is:- Total revenue = $400 Output = 12 units We have to calculate the…

Q: Calculate the value of Total revenue if price per kg of apples are $15 and the total quantity of…

A: In the above given question, the information given is as follows:- Price per kg of apple = $15…

Q: Table 3 below shows a data set comprising the total revenue generated by a different department in…

A: A frequency polygon is a graphical representation of data, which is obtained by joining the…

Q: Consider the CEO of a company that sells coffee at small free standing shops around the country. The…

Q: Calculate the value of TR when average revenue is 30 and no of units employed is 10

A: # total revenue is calculated bye by the product of average revenue and the number of units employed…

Q: Prode Pce 10000 00 Demand

A: Disclaimer : “Since you have asked multiple question, we will solve the first question for you. If…

Q: A. Point A B. Point C C. Point D D. Point G

A: Production possibility curve is used to determine the production level and allocation of resources…

Q: Please answer both sir please i will rate otherwise Dounvote I have no more question

A: Change in GDP = Change in government spending*Multiplier Multiplier = 1/1-MPC = 1/1-0.68 = 1/0.32…

Q: TC= 1/3 Q^3 – 15Q^2 + 480Q- a) Write down the equa b) Find the values of Q f c) Plot the graph of…

A: AFC which is known as Average Fixed Cost refers to the per-unit cost (fixed) of production, which is…

Q: 7. Herb sells apples from his family's farm at the Farmer's Market on the weekends. His revenue is…

Q: Answer #7

A: We will answer the first three subparts only. Please resubmit the question with any other parts…

Q: Calculate average revenue when total revenue is $4400 and units sold are 64 units

A: We are given that:- Total revenue = $4400 Total Units sold = 64 We need to calculate the value of…

Q: 1z

A: The money supply is the supply of currency in an economy. The M1 money supply is the summation of…

Q: The total amount spend on production of 500 machines are $100. The selling price of a machine is $…

A: The cost of producing 500 machines (Total cost) = $100 The selling price of one machine = $25

Q: modity modity is 1S: (a) Maximum (b) Falling (c) Constant (d) Rising

A: According to the given question The marginal utility of the commodity when no commodity is consumed…

Q: nalyzes yzes the relationship bet viewing the store's data for the previous six months. The da e…

A: In statistics, in addition to the mode and median, the mean is one of the measures of central…

Q: Consider the following data: −9,13,−14,−14,−9,−14,−9−9,13,−14,−14,−9,−14,−9 Copy Data Step 3 of…

A: Dispersion tells us how much data is spread (or how much variation is there in data). The range is…

Q: The number of units that has been sold is 60 and the total revenue the firm has generated out of it…

A: We are given with the information that:- No of units sold = 60 units Total revenue generated = $4400…

Q: see in

A: E onomic growth mostly occurs in large economies population.

Q: Total revenue is $4400 and output is 220 Find the value of average revenue

A: Total revenue is value of output sold at a particular price. For profit, total revenue should be…

Q: The product was in regards to bread

A: When talking about economic rent, it refers to the additional benefits that a firm collects due to…

Q: Calculate the value of total revenue when average revenue is $77 and the no of units sold is 7

A: # The formula for average revenue is:- AR = TR/Q So TR = AR * Q

Q: Calculate the value of Average revenue for 4 units sold when the total revenue is $100

A: # we know that the average revenue is given by the ratio of total revenue and the total quantity…

Question

Expert Solution

This question has been solved!

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

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

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

What research designs for the impact of social media on the perception of “Self” among Adolescents could I use to collect data, and what are theethical challenges posed by such alternatives?
II. Pick any two (2) personal care product brands available in the market and answer the following questions and briefly explain why for each: Does it solve a need or problem? Is it easy to use? Is it physically well designed? Does it do well with a minimum amount and effort? Is it tailored to your customers?
What percentage of consumers believe consumer-generated content (CGC) is the most authentic form of all content?A. 20%B. 40%C. 60%D. 80%E. 90%
A website offers a place for people to buy and sell emeralds, but information about emeralds can be quite imperfect. The website then enacts a rule that all sellers in the market must pay for two independent examinations of their emerald, which are available to the customer for inspection. How would you expect this improved information to affect demand for emeralds on this website? How would you expect this improved information to affect the quantity of high-quality emeralds sold on the website?
Which of the following unethical practices occurs when consumers are signed up and billed for third-party services without their knowledge or consent? A. Fraud and deception B.Due care C.Coercion D.Cramming Give typing answer with explanation and conclusion
An important distinction in health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list priceis the official price that the provider charges the insurance company, while the outof- pocket price is the price that the insurance customer faces. Sometimes, the out-ofpocket price depends on the list price.a. Draw a set of axes with list price PL on the y-axis and quantity Q on the x-axis (you will want to make your graph nice and big, because you will be adding several demand curves).b. Suppose a consumer’s demand for a particular medical procedure is Q=100−PP. Draw her demand curve in PL–Q space under the assumption of no insurance and label it D1. You will have to think about the relationship between PL and PP to draw it correctly.c. Now assume the same consumer is fully insured. Think about how this affects the relationship between PL and PP and draw a full-insurance demand curve in PL–Q space. Label this curve D2.d. Now assume the…
Economically, price refers to a dollar value but not time taken sitting in the health clinics waiting for care. a. True b. False
Identify the knowledge the public should possessabout CAT if they wish to be informed consumers.
Need help with multiple choice questions asap thx
If a consumer is injured by a defective product, which of the following types of claims may the consumer bring? (Select two) Strict Liability Malfeasance Misdemeanor Negligence Typed answer please. Do it correctly. I ll rate
True or false and explain State policies that mandated the release of physician report cards were greatly beneficial to consumers by allowing them to more efficiently search for high quality surgeons.
The owners of a QPedix, a small manufacturing company, have hired a manager to run the company. The compensation of the new Vice President is a flat salary (currently set at $50,000) plus 75% of the first $150,000 profit, then 10% of profit over $150,000. Discuss how the annual compensation of the Vice president vary with the corresponding company’s annual profit—use a schedule (table) and/or graph. Further, discuss the alignment of the incentives of the new Vice president with the profitability goals of the owners and, if necessary, propose a contract that better aligns the incentives of the new Vice president with the profitability goals of the owners.