Use the Following Table, Assuming Each Customer Buys Only 1

question 132

Multiple Choice

Use the following table, assuming each customer buys only 1 unit, to complete the following.
By lowering the price from $70 to $65, the marginal revenue is $____.

• A) 55
• B) 70
• C) 65
• D) 5

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Definitions:

Global Trade

Entails the exchange of goods, services, and capital across international borders or territories, influenced by agreements, tariffs, and economic policies.

International Arbitration

A method used to resolve disputes between parties from different countries through the intervention of one or more arbitrators rather than through litigation.

Trade Disputes

Conflicts that occur between countries or companies over aspects of trade, including tariffs, market access, and product standards.

Litigation Costs

Expenses associated with legal actions, including attorney fees, court fees, and other costs related to lawsuits.