If a Firm Sells 10 Units of Output at $100

question 333

Multiple Choice

If a firm sells 10 units of output at $100 per unit and 11 units of output when price is reduced to $99, its marginal revenue for the last unit sold is

• A) $11.
• B) $99.
• C) $109.
• D) $89.

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Definitions:

Marketers

Professionals who are involved in the creation, communication, delivery, and exchange of offerings that have value for customers, clients, partners, and society at large.

Classical Conditioning

An educational method where learning happens via linking an external stimulus with a naturally happening stimulus.

Correct Terminology

The use of appropriate, precise, and agreed-upon words and phrases in a specific field of study, profession, or context.

Elements

Fundamental substances that cannot be chemically interconverted or broken down into simpler substances and are primary constituents of matter.