question archive Suppose ten pretzels are sold at a price of $8 each and the marginal product of the last unit of labor required to produce pretzels is 5 units
Suppose ten pretzels are sold at a price of $8 each and the marginal product of the last unit of labor required to produce pretzels is 5 units
Subject:EconomicsPrice:2.88 Bought3
Suppose ten pretzels are sold at a price of $8 each and the marginal product of the last unit of labor required to produce pretzels is 5 units. The total revenue of the firm producing pretzels is:
a) $6
b) $50
c) $150
d) $30
e) $80
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If there are 10 units sold at a selling price of $8, then total revenue can be computed as follows:
Total revenue = Selling Price * Units sold
= 10 units * $8
= $80
The answer is thus E.
