Answered

Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Ask your questions and receive precise answers from experienced professionals across different disciplines. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

If a monopolist can sell 7 units when the price is $4 and 8 units when the price is $3, then marginal revenue of selling the eighth unit is equal to Group of answer choices $3. $4. $24. -$4.

Sagot :

The marginal revenue of selling the eighth unit is $-4.

A monopolist is the only producer in the industry. A monopolist operates in a monopoly. The monopolist sets the market price of their products.

Marginal revenue is the change in total revenue when quantity sold increases by one unit.

Marginal revenue = change in total revenue / change in quantity sold

change in total revenue = ($3 x 8) - ($4 x 7) = $-4

change in quantity sold = 8 - 7 = 1

Marginal revenue = $-4 / 1 = $4

A similar question was answered here: https://brainly.com/question/15566669

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.