Table 15-7
Sally owns the only shoe store in town. She has the following cost and revenue information.
-Refer to Table 15-7. What is the marginal revenue from selling the 8th pair of shoes?
A)$10
B)$20
C)$40
D)$90

Question

Table 15-7
Sally owns the only shoe store in town. She has the following cost and revenue information. 
-Refer to Table 15-7. What is the marginal revenue from selling the 8th pair of shoes?
A)$10 
B)$20 
C)$40 
D)$90

Quizplus · Accepted Answer

Marginal revenue is the additional revenue from selling one more unit. If the revenue from selling 7 pairs is $140 and from 8 pairs is $160, the marginal revenue for the 8th pair is $160 - $140 = $20.

Table 15-7 Sally Owns the Only Shoe Store in Town. She Has