The firm in the figure above has a total revenue equal to ________
A) $5.10 × 10
B) $8.00 × 10
C) ($5.10 - $8.00 ) × 10
D) ($8.00 - $5.10 ) × 10
E) None of the above answers is correct because more information is needed.
B
You might also like to view...
Monetary policy showed to be impotent in which of the following historical episodes
A) Japan since 1992 B) U.S. since 1941 C) China between 1980 and 1987 D) U.S. between 1975 and 1982
The demand for xenite ore is fixed over time and is given as:
q = 40 - P where q is the number to tons of ore produced and P is the price per ton of xenite ore. The marginal extraction cost is $15 per ton and is also constant over time. The total quantity of the resource currently known to exist is 53.29 tons. The interest rate is 10 percent. Using the Hotelling rule for an exhaustible resource, complete the following table. Time Period Price Marginal Cost q Cumulative Production Today 15 1 Year 15 2 Years 15 3 Years 15 4 Years 15 5 Years 15 6 Years 15 7 Years 40.00 15 0 53.29