When the firm cuts the price from 500 to 475 to sell the, Microeconomics

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When the firm cuts the price from 500 to 475 to sell the

In the following figure, consider the marginal revenue of the eleventh unit sold. When the firm cuts the price from $5.00 to $4.75 to sell the eleventh unit, what area in the graph denotes the output effect, and what is the dollar value of the output effect? What area in the graph denotes the price effect, and what is the dollar value of the price effect? What is the marginal revenue of the eleventh unit?

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Microeconomics: When the firm cuts the price from 500 to 475 to sell the

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Microeconomics: When the firm cuts the price from 500 to 475 to sell the

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