lectur24-page5

lectur24-page5 - = $150,000 / 50,000 = $3.00/bushel...

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Marginal revenue:Change in TR associated with a one unit change in output. (MR) MR = TR / Q = (TR 1 - TR 0 ) / (Q 1 - Q 0 ) = ($300,000 - $150,000) / (100,000 - 50,000)
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Unformatted text preview: = $150,000 / 50,000 = $3.00/bushel Therefore the MR = Price of the commodity per unit for a price taker....
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