Question

The market price of pomegranates is $2, and JoAnne sells 25 pomegranates at the local farmer's market. The total revenue is and the marginal revenue IS

Answer 1

$50 and $2

Step-by-step explanation:

The computation of the total revenue and the marginal revenue is shown below:

Total revenue is

= Price × quantity

= $2 × 25

= $50

And, the marginal revenue is received collected from one unit i.e price of the one units that equivalent to $2

Hence, we simply applied the above formula to determine the total revenue and the marginal revenue