McRobert's TV Shop Sells 400 Sets Per Month, at a Price

question 144

Multiple Choice

McRobert's TV Shop sells 400 sets per month, at a price of $600 per unit. Market research indicates that the shop can sell one additional set for each $1 it reduces the price. The total revenue (in dollars) is given by , where x is the number of additional sets beyond the original 400. What is the marginal revenue if 300 more units are sold? ​

• A)0$1,600
• B)​-$100
• C)0$400
• D)-$400
• E)0$800

Grasp the extent of government power in acquiring private property for public use as per the United States Supreme Court rulings.

Understand the basic characteristics and symptoms of personality disorders.

Recognize the specific traits and diagnostic criteria of borderline personality disorder and antisocial personality disorder.

Differentiate between various dissociative disorders and their symptoms.

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Definitions:

Contract Curve

In economics, it is a curve that shows the set of mutually beneficial (efficient) allocations in a trade or exchange situation.

Edgeworth Box

A diagram used in microeconomics to show the distribution of resources and the optimal allocation between two individuals.

Pareto Optimal Allocations

Economic situations where no individual can be made better off without making another individual worse off.

Edgeworth Box

A diagram used in microeconomics to show the distribution of resources or outcomes between two parties, illustrating concepts like efficiency and market equilibria.