If a seller can sell 5 units at $8 each but can sell 6 units only by lowering the price to $7 (and must sell all units at the same price), the marginal revenue from selling the 6th unit is
A) $42.
B) $7.50.
C) $7.
D) $2.
E) none of the above.
D
Economics
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Which of the following does not shift the entire consumption function?
a. Net Wealth b. Price Level c. Interest Rates d. Producer Expectations
Economics
In the graph above
A. D1 is more inelastic than D2. B. D2 is more inelastic than D1. C. D1 and D2 have the same elasticity. D. There is no way to tell whether D1 or D2 is more elastic.
Economics