Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Helpful Pharmaceuticals, Inc. has a monopoly on one of its products. The company is currently producing 154 units. Help them decide if they should increase

Helpful Pharmaceuticals, Inc. has a monopoly on one of its products. The company is currently producing 154 units. Help them decide if they should increase output by one more unit. What is the marginal revenue of the 155 th unit? Helpful Pharmaceuticals, Inc. Quantity (Q) Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) 150 $ 7 , 500 ? $ 500 $ 500 151 $ 7 , 950 ? $ 775 $ 275 152 $ 8 , 860 ? $ 1 , 000 $ 225 153 $ 9 , 465 ? $ 1 , 250 $ 250 154 $ 9 , 690 ? $ 1 , 650 $ 400 155 $ 9 , 800 ? $ 2 , 500 $ 850 156 $ 9 , 875 ? $ 4 , 000 $ 1 , 500 157 $ 9 , 925 ? $ 6 , 400 $ 2 , 400

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics and Strategy

Authors: Jeffrey M. Perloff, James A. Brander

1st edition

978-0137036059, 133379094, 321566440, 137036051, 9780133379099, 978-0321566447

More Books

Students also viewed these Economics questions