Based on this chart, what is the marginal revenue, in dollars, at quantity three jackets? select one:
a. four
b. 11
c. 16
d. 36

Marginal Revenue is the rate of change of Total Revenue.

So when we want to know the marginal revenue at a certain quantity, we check by how much the total revenue changed from the previous quantity unit.

For example, looking at the table,

So the marginal revenue at quantity 2 is the difference between total revenue of quantity 2 with the previous quantity (which is quantity 1). So,

Similarly, the marginal revenue at quantity 3 is the difference between total revenue of quantity 3 with the previous quantity (which is quantity 2). So,

Our answer is 16, option C.

ANSWER: C

what graph

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