Marginal revenue of a product is the incremental revenue of selling an additional unit of that product. Let, the revenue of selling 20 units of a product be Rs. 15,000 and the revenue of selling 21 units of the same product be Rs. 15,085. Then, the marginal revenue of selling the 21st un
Marginal revenue of a product is the incremental revenue of selling an additional unit of that product. Let, the revenue of selling 20 units of a product be Rs. 15,000 and the revenue of selling 21 units of the same product be Rs. 15,085. Then, the marginal revenue of selling the 21st un
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter3: Benefits, Costs, And Decisions
Section: Chapter Questions
Problem 2MC
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Marginal revenue of a product is the incremental revenue of selling an additional
unit of that product. Let, the revenue of selling 20 units of a product be
Rs. 15,000 and the revenue of selling 21 units of the same product be
Rs. 15,085. Then, the marginal revenue of selling the 21st unit ________?
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