Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Experience the convenience of getting accurate answers to your questions from a dedicated community of professionals. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.
Sagot :
Let's carefully analyze the given table.
[tex]\[ \begin{tabular}{|c|c|c|} \hline \text{produced per day} & \text{total revenue} & \text{Marginal revenue} \\ \hline 0 & - & - \\ \hline 1 & \$ 10 & \$ 10 \\ \hline 2 & \$ 20 & \$ 10 \\ \hline 3 & \$ 30 & \$ 10 \\ \hline 4 & \$ 40 & \$ 10 \\ \hline 5 & \$ 50 & \$ 10 \\ \hline 6 & \$ 60 & \$ 10 \\ \hline 7 & \$ 70 & \$ 10 \\ \hline \end{tabular} \][/tex]
In context:
1. Total Revenue: This is the overall income generated from selling the produced units.
2. Marginal Revenue: This represents the additional revenue earned from selling one more unit of the product.
The table shows the total revenue for different units produced per day and the corresponding marginal revenue:
- When 1 unit is produced, total revenue is \[tex]$10 and marginal revenue is \$[/tex]10.
- For 2 units, total revenue is \[tex]$20 and marginal revenue is still \$[/tex]10.
- This pattern continues uniformly for all production levels up to 7 units, with total revenue increasing by \[tex]$10 and marginal revenue consistently being \$[/tex]10 across the board.
Given the data:
- The marginal revenue for producing each additional unit is always \$10, regardless of the number of units produced.
Therefore, we conclude:
- The marginal revenue remains the same as production increases.
Thus, the correct answer is:
"remains the same as production increases."
[tex]\[ \begin{tabular}{|c|c|c|} \hline \text{produced per day} & \text{total revenue} & \text{Marginal revenue} \\ \hline 0 & - & - \\ \hline 1 & \$ 10 & \$ 10 \\ \hline 2 & \$ 20 & \$ 10 \\ \hline 3 & \$ 30 & \$ 10 \\ \hline 4 & \$ 40 & \$ 10 \\ \hline 5 & \$ 50 & \$ 10 \\ \hline 6 & \$ 60 & \$ 10 \\ \hline 7 & \$ 70 & \$ 10 \\ \hline \end{tabular} \][/tex]
In context:
1. Total Revenue: This is the overall income generated from selling the produced units.
2. Marginal Revenue: This represents the additional revenue earned from selling one more unit of the product.
The table shows the total revenue for different units produced per day and the corresponding marginal revenue:
- When 1 unit is produced, total revenue is \[tex]$10 and marginal revenue is \$[/tex]10.
- For 2 units, total revenue is \[tex]$20 and marginal revenue is still \$[/tex]10.
- This pattern continues uniformly for all production levels up to 7 units, with total revenue increasing by \[tex]$10 and marginal revenue consistently being \$[/tex]10 across the board.
Given the data:
- The marginal revenue for producing each additional unit is always \$10, regardless of the number of units produced.
Therefore, we conclude:
- The marginal revenue remains the same as production increases.
Thus, the correct answer is:
"remains the same as production increases."
We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.