enue Is best descIbed as the change in revenue when one additional worker is hired. variable cost per unit times the number of units sold. price per unit times the number of units sold. what economists assume firms seek to maximize. Suppose that the price of a coffee table is $85/table. Jim-Bob will sell 100 coffee tables at the flea market this month. It costs Jim-Bob $50 in materials and supplies to make each coffee table and $150/month to rent space at the flea market. These are all of Jim-Bob's costs. How much will Jim-Bob make in total revenue this month? Do not round your answer. $ How much profit will Jim-Bob make at the flea market this month? Do not round your answer.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Question 3 of 20
Total revenue is best described as
the change in revenue when one additional worker is hired.
variable cost per unit times the number of units sold.
price per unit times the number of units sold.
what economists assume firms seek to maximize.
Suppose that the price of a coffee table is $85/table. Jim-Bob will sell 100 coffee tables at the flea market this month. It costs
Jim-Bob $50 in materials and supplies to make each coffee table and $150/month to rent space at the flea market. These are all
of Jim-Bob's costs.
How much will Jim-Bob make in total revenue this month? Do not round your answer.
$
How much profit will Jim-Bob make at the flea market this month? Do not round your answer.
$
Transcribed Image Text:Question 3 of 20 Total revenue is best described as the change in revenue when one additional worker is hired. variable cost per unit times the number of units sold. price per unit times the number of units sold. what economists assume firms seek to maximize. Suppose that the price of a coffee table is $85/table. Jim-Bob will sell 100 coffee tables at the flea market this month. It costs Jim-Bob $50 in materials and supplies to make each coffee table and $150/month to rent space at the flea market. These are all of Jim-Bob's costs. How much will Jim-Bob make in total revenue this month? Do not round your answer. $ How much profit will Jim-Bob make at the flea market this month? Do not round your answer. $
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