The Following Table Shows the Units of the Output Sold

question 12

Multiple Choice

The following table shows the units of the output sold at different price levels by Gizmo's Inc. Table 24.1
According to Table 24.1, what is the marginal revenue of the third unit?

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

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Definitions:

Price Escalation

An increase in the price of products or services over time, often due to factors such as inflation or increased costs of materials.

Firm-Fixed-Price

A type of contract where the price agreed upon is not subject to any adjustments based on the cost experience of the supplier or service provider.

Substantial Chance

A significant opportunity or probability of occurrences that can have considerable effects or outcomes.

Purchasing Manager Indexes

Economic indicators derived from monthly surveys of private sector companies, providing insight into the economic health of the manufacturing sector.