If a Price-Searcher Firm Can Sell Nine Units at a Price

question 122

Multiple Choice

If a price-searcher firm can sell nine units at a price of $6, or it can sell ten units at a price of $5.75, what is the marginal revenue of the tenth unit?

• A) $1
• B) $3.50
• C) $5.75
• D) $6

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Definitions:

Extraction Rights

Legal permissions granted to companies or individuals to extract natural resources such as minerals, oil, or gas from the land.

Federal Government

The national government of a federal country, where powers are divided between the central government and the states or provinces.

Railroad System

A network of tracks, trains, and facilities for the transportation of passengers and goods over long distances, significantly contributing to economic development and the expansion of territories.

American Economy

The complex system of production, distribution, and consumption of goods and services within the United States, characterized by a mixed economy with both private and public enterprises.