Solve the Problem. -Danette Is Making Party Favors That Take 13 Cm of 13

question 147

Multiple Choice

Solve the problem.
-Danette is making party favors that take 13 cm of ribbon each. How many meters of ribbon will She need to make 38 favors?

• A) 494
• B) 4.94
• C) 0.494
• D) 49.4

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Definitions:

Marginal Revenue

Marginal Revenue is the additional income received from selling one more unit of a product.

Marginal Decision Rule

A principle that states that an action should be taken if, and only if, the marginal benefits exceed the marginal costs.

MC > MR

A condition where a firm's marginal cost is greater than its marginal revenue, suggesting that it would not be profitable to increase output further.

Monopolistic Competition

A market structure where many companies sell products that are similar but not identical, leading to competition based on price, quality, and marketing.