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:

Construction Industry

The sector of the economy that deals with the construction, maintenance, and repair of buildings, roads, and other physical structures.

Privately Owned Businesses

Businesses that are owned by individuals or private companies and are not traded publicly on stock exchanges.

Entrepreneurship

The act of creating, managing, and scaling a business venture to generate profit while taking on financial risks.

Flexible

The ability to easily adapt to new, different, or changing requirements, conditions, or situations.