The Following Table Shows the Units of Output Sold at Different

question 34

Multiple Choice

The following table shows the units of output sold at different price levels by Gizmo's Inc.Table 11.1

-According to Table 11.1, what is the marginal revenue of the third unit?

• A)$42
• B)$32
• C)$18
• D)$14
• E)$10

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Definitions:

Firms Locate

The process by which businesses decide where to establish their operations, influenced by factors such as market access, costs, regulations, and infrastructure.

Capital

Capital in a business context represents the financial assets needed for operations, such as funds in bank accounts, inventory, buildings, and machinery.

Growth Strategy

A plan devised by a business to increase its size and market share through measures such as market penetration, product expansion, and acquisitions.

Global Competition

The situation where businesses compete with others around the world for market share, resources, and talent, driving innovation and efficiency.