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QUESTION 18 According to the table above, what is the marginal revenue of the third unit? A. $42 B. $14 C. $10 D. $18 E.

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QUESTION 18 According to the table above, what is the marginal revenue of the third unit? A. $42 B. \$14 C. $10 D. $18 E. $32 On the basis of the following cost data: Refer to the above data. The total cost of four units of output is: A. \$260. B. $77.50. C. $310. D. $215. Scenario: Accounting and Economic Profit Rather than put the $100,000 that his grandmother left him in a mutual fund and eam 5% each year, Tommy Wang quit his job that paid $60,000 per year and used the $100,000 to start Wang's Wicker Furniture Store. He rented a showroom for $20,000 for the year, purchased $60,000 in wicker furniture, and incurred costs of $40,000 for salos help and advertising. In his first year, his revenue was approximately $150,000. (Sconario: Accounting and Economic Protit) The economic profit of Wang's Wicker Furniture Store is: A. $35,000. B. $0. C. $67,000. D. $20,000

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