amulets6562 amulets6562

07-02-2020
Business

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.Suppose a monopoly firm produces bicycles and can sell 10 bicycles per month at a price of $700 per bicycle. In order to increase sales by one bicycle per month, the monopolist must lower the price of its bicycles by $50 to $650 per bicycle. The marginal revenue of the 11th bicycle is

$150.

-$50.

$50.

$7,150.

Respuesta :

kaympoey08 kaympoey08

09-02-2020

Answer:

The answer is $150

Explanation:

Change in Total Revenue = Total Revenue – Revenue figure before the additional unit was sold

Marginal revenue = (11*700) - (10*701)= $150

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