**Table: Production and Revenue Data**| \# Units Produced | Total Revenue | Total Costs ||-------------------|---------------|-------------|| 0 | 0 | 0 || 1 | 100 | 50 || 2 | 180 | 110 || 3 | 250 | 180 || 4 | 290 | 270 || 5 | 310 | 380 |**Question 10:**What is the marginal revenue of producing the 2nd unit?a) 50 b) 70 c) 90 d) 80**Explanation:**The table provides data on the number of units produced, the corresponding total revenue, and total costs. To find the marginal revenue for the 2nd unit, calculate the change in total revenue when increasing production from 1 to 2 units. Marginal revenue is the additional revenue from selling one more unit.

Answered: Image /qna-images/answer/d936cab7-3b70-4352-80a0-98a478239863.jpg

Answered: # Units Produced Total Revenue Total…

# Units Produced Total Revenue Total Costs 1 100 50 180 110 250 180 4 290 270 310 380 10. What is the marginal revenue of producing the 2nd unit? a) 50. b) 70. c) 90. d) 80. 2. 5.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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