If the market price for a chair is $24 and the marginal cost for the chai is $7, the marginal revenue from the chair would be? if the market price for a chair is $24 and the marginal cost for the chair is $7, the marginal revenue from the chair would be $24. if product price is constant, marginal revenue is the same as price. [ as long as the price of a product is constant, price and marginal revenue are the same. ]

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Business

Emery Watts

17 May, 04:08

If the market price for a chair is $24 and the marginal cost for the chai is $7, the marginal revenue from the chair would be? if the market price for a chair is $24 and the marginal cost for the chair is $7, the marginal revenue from the chair would be $24. if product price is constant, marginal revenue is the same as price. [ as long as the price of a product is constant, price and marginal revenue are the same. ]

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Janiyah Weaver · Answer 1

The marginal revenue of a certain object is equal to its selling price in the market. This product price is constant therefore the marginal revenue should be equal to the market price. Hence, the answer to this item is equal to $24.