Answer to Question #46075 in Economics of Enterprise for hlengiwe
Calculate the marginal income if 32 units were to be sold.
Marginal revenue (income) is the additional revenue that will be generated by increasing product sales by 1 unit. It can also be described as the unit revenue the last item sold has generated for the firm. In a perfectly competitive market, the additional revenue generated by selling an additional unit of a good is equal to the price the firm is able to charge the buyer of the good. But in our case there is not enough information to calculate marginal income.