100 $120 150 1 $120 5202 2 $120 $257 3 $120 5317 4. $120 $385 5. $120 $465 6 $120 $562 $120 $682 8 $120

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Table 14-6
The following table presents cost and revenue information for a firm operating in a competitive industry.
COSTS
REVENUES
Quantity
Produced
Total
Cost
Marginal
Cost
Quantity
Demanded Price
Total
Revenue
Marginal
Revenue
$100
$120
$150
$120
2.
$202
2
$120
$257
$120
4.
$317
4
$120
$385
$120
6
$465
6.
$120
$562
7.
$120
8.
$682
8.
$120
Refer to Table 14-6. What is the marginal revenue from selling the 3rd unit?
O a. $140
b.$120
Oc. $137
O d. $55
Transcribed Image Text:Table 14-6 The following table presents cost and revenue information for a firm operating in a competitive industry. COSTS REVENUES Quantity Produced Total Cost Marginal Cost Quantity Demanded Price Total Revenue Marginal Revenue $100 $120 $150 $120 2. $202 2 $120 $257 $120 4. $317 4 $120 $385 $120 6 $465 6. $120 $562 7. $120 8. $682 8. $120 Refer to Table 14-6. What is the marginal revenue from selling the 3rd unit? O a. $140 b.$120 Oc. $137 O d. $55
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