MyLab Economics with Pearson eText -- Access Card -- for Microeconomics
MyLab Economics with Pearson eText -- Access Card -- for Microeconomics
6th Edition
ISBN: 9780134125886
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Chapter 13, Problem 13.1.10PA

Subpart (a):

To determine

Marginal revenue, output effect and price effect of the tomato farmer.

Subpart (b):

To determine

Marginal revenue, output effect and price effect of the tomato farmer.

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Sally runs a vegetable stand The following table shows two points on the demand curve for the heirloom tomatoes she sells Price Quantity demanded per week $4.00 100,000 200,000 $2.75 Sally's marginal revenue from lowering the price of tomatoes from $4.00 to $2. 75 is S (Enter your response rounded to two decimal places) Lowering the price trom $4 00 to $2 75 results in an output effect of $and a price effect of S (Enter your responses as whole numbers and include a minus sign i necessary)
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