$9.50 must be the new price. The 11th toy's marginal revenue is $4. Thus option (C) is correct.
The total income derived from the sale of products or services pertaining to a business's core operations is referred to as revenue. Because it appears at the top of the income statement, revenue, which is also known as gross sales, is frequently referred to as the "top line." A company's overall earnings or profit are referred to as income or net income.
By dividing the change in total revenue by the change in total output volume, a business determines marginal revenue. A company can look at its marginal revenue to ascertain the number of earnings it will make from the additional units of goods sold. Therefore, in order to maximize profits, a business must increase production to the point at which marginal revenue is equal to marginal cost.
Therefore, Thus option (C) is correct.
Learn more about the revenue here:
https://brainly.com/question/8645356
#SPJ1
