The price elasticity of toy cars that you sell is $4\mathrm{.}00[$negative $4]$; you currently charge a price of $$5\mathrm{.}00$ and marginal cost of toy cars is $$3\mathrm{.}00.$ Calculate the marginal revenue from the given information.

a$.$

$$4\mathrm{.}25$

b$.$

$$4\mathrm{.}50$

c$.$

$$5\mathrm{.}00$

d$.$

$$2\mathrm{.}25$

e$.$

$$4\mathrm{.}00$

f$.$

$$2\mathrm{.}75$

g$.$

$$3\mathrm{.}00$

h$.$

$$3\mathrm{.}50$

i$.$

$$2\mathrm{.}50$

j$.$

$$3\mathrm{.}25$

k$.$

$$4\mathrm{.}75$

l$.$

$$3\mathrm{.}75$

Answer rating: 100% (QA)

The detailed answer for the above question is provided below T... View the full answer