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Author Question: Scenario 1-2Suppose a hat manufacturer currently sells 2,000 hats per week and makes a profit of ... (Read 100 times)

imanialler

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Scenario 1-2

Suppose a hat manufacturer currently sells 2,000 hats per week and makes a profit of $5,000 per week. The plant owner observes, "Although the last 300 hats we produced and sold increased our revenue by $1,000 and our costs by $1,100, we are still making an overall profit of $5,000 per week so I think we're on the right track. We are producing the optimal number of hats."



Refer to Scenario 1-2. Using marginal analysis terminology, another economic term for the incremental revenue received from the sale of the last 300 hats is


sales revenue.


gross profit.


gross earnings.


marginal revenue.



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Marked as best answer by imanialler on Oct 5, 2019

matt

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