What Is 6.147 Rounded to the Nearest Tenth

question 22

Multiple Choice

What is 6.147 rounded to the nearest tenth?

• A)6.2
• B)6.15
• C)6.14
• D)6.1

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Definitions:

Marginal Revenue

The additional income that an organization receives from selling one more unit of a product or service.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing the financial gain exceeding the opportunity costs of resources.

MR = MC

An economic principle stating that the maximum profit occurs where marginal revenue equals marginal cost, guiding firms on the optimal level of output.

Output

The total amount of goods or services produced by a firm, industry, or economy within a given period.