11. Refer to the table belowOutputTotal Variable CostTotal Cost012345678$0$100$100.$200$140$240$190$290$250$350$320$420$400$500$490$590$590$690Suppose the firm has maximized profit based on the market price at the output of 8 units. What is the marginalrevenue earned from the eighth unit?A) $100B) $90C) $590D) $110E) $690

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Answered: 11. Refer to the table below Output…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 4CQQ

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