Use the Following Table, Assuming Each Customer Buys Only 1

question 78

Multiple Choice

Use the following table, assuming each customer buys only 1 unit, to complete the following.
By lowering the price from $65 to $60, the marginal revenue is $____.

• A) 55
• B) 45
• C) 65
• D) 5

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Definitions:

Selling Price

The final amount at which a product or service is sold to the consumer.

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