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

---

Definitions:

Lawn-Mowing

The process of cutting the grass in a garden, lawn, or yard to maintain a desired level of neatness and health.

Profit Per Unit

The amount of income earned from selling one unit of a product after deducting the costs associated with its production and sale.

Profit-Maximizing Output

The level of production where a firm achieves the highest possible profit, where marginal cost equals marginal revenue.

Lawn-Mowing

The action of cutting the grass in a yard or garden using a machine known as a lawnmower.