Bill's BirdhousesCOSTSREVENUESQuantity TotalProduced CostMarginal QuantityCostMarginalTotalDemanded PriceRevenue Revenue$0$801$501$802$1022$803$157$804$2174$805$285S80$365$807$4627$80s5828S80What is the total revenue from selling 8 units?a, $80nb.$382nc. $560nd.S6403.6.6.

Total revenue (TR) is calculated by the formula:- TR = P × Q Where as, P = PRICE Q = QUANTITY

COSTS REVENUES Quantity Total Produced Cost Marginal Quantity Cost Total Marginal Demanded Price Revenue Revenue so $80 1 $50 1 $80 2 $102 2 $80 3 $157 3 $80 $217 4 $80 5 $285 5 $80 $365 $80 7 $462 7 $80 8 $582 8 S80 What is the total revenue from selling 8 units? a, $80 nb.$382 |C. $560 d.$640 4.

COSTS REVENUES Quantity Total Produced Cost Marginal Quantity Cost Total Marginal Demanded Price Revenue Revenue so $80 1 $50 1 $80 2 $102 2 $80 3 $157 3 $80 $217 4 $80 5 $285 5 $80 $365 $80 7 $462 7 $80 8 $582 8 S80 What is the total revenue from selling 8 units? a, $80 nb.$382 |C. $560 d.$640 4.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Bill's Birdhouses
COSTS
REVENUES
Quantity Total
Produced Cost
Marginal Quantity
Cost
Marginal
Total
Demanded Price
Revenue Revenue
$0
$80
1
$50
1
$80
2
$102
2
$80
3
$157
$80
4
$217
4
$80
5
$285
S80
$365
$80
7
$462
7
$80
s582
8
S80
What is the total revenue from selling 8 units?
a, $80
nb.$382
nc. $560
nd.S640
3.
6.
6.

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