Total Revenue Is in Dollars and X Is the Number

question 197

Multiple Choice

Total revenue is in dollars and x is the number of units. Suppose that the total revenue function for a commodity is Find the marginal revenue at and tell what it predicts about the sale of the next unit. Round your answer to two decimal places. ​

• A) 13.80. The selling of the next unit increases revenue by $13.80.
• B) 12.60. The selling of the next unit increases revenue by $12.60.
• C) -414.00. The selling of the next unit decreases revenue by $414.
• D) -30.00. The selling of the next unit decreases revenue by $30.
• E) -15.00. The selling of the next unit decreases revenue by $15.

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Definitions:

Earrings

Jewelry worn on the earlobe or through another part of the ear, typically as a form of personal adornment.

Income

The monetary payment received by an individual or household from various sources like work, investments, or transfers, over a specified period.

Consumer's Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.

Demand Function

The demand function is a mathematical representation that describes the quantity of a good that consumers are willing and able to purchase at various prices.