-Refer to Table 9-1

question 212

Multiple Choice

-Refer to Table 9-1. What is the marginal revenue from the sale of the 12th unit?

• A) $75
• B) $50
• C) $20
• D) -$5

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Definitions:

Quantity Demanded

The specific amount of a good or service that consumers are willing and able to buy at a given price within a certain period of time.

Price Decrease

A reduction in the cost of goods or services, which can affect demand, supply, and economic equilibrium.

Determinant

A factor or condition that decisively affects the nature or outcome of something, often used in economics to discuss variables impacting demand, supply, or price.

Inputs

Resources used in the production process, including labor, capital, and materials.