(Table: Prices and Demand) The New Orleans Saints have a monopoly on Saints logo hats. The marginal cost of producing a hat is $18. If the Saints increase the number of hats they sell from 4 to 5, marginal revenue is:
$8.
$20.
$22.
$12.
Homework Answers
Answer : The answer is option D.
Total revenue = Price * Quantity
For 4 hats the total revenue = 22 * 4 = $88
For 5 hats the total revenue = 20 * 5 = $100
Marginal revenue = Total revenue of 5 hats - Total revenue of 4 hats = 100 - 88 = $12
Therefore, option D is correct.
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(Table: Prices and Demand) The New Orleans Saints have a
monopoly on Saints logo hats. The...
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(Table: Prices and Demand) Use Table: Prices and Demand. The New
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Saint's profit-maximizing output?
$12
$18
$24
$9
Table: Prices and Demand Quantity of Hats Price Demanded Der Hat $30
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4; $22
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Why is revenue maximized at a larger quantity than profit? Show
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In the figure to the right, let D be demand and MR be marginal
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$12
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$18
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Table: Prices and Demand Quantity of Hats Price Demanded Der Hat $30
(Table: Prices and Demand) Use
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Saints logo hats. The marginal cost of producing a hat is $18. The
Saints should produce _____ hats and charge _____ to maximize its
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4; $22
3; $24
1; $28
2; $26
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