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3. The components of marginal revenue Asim's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Asim initially produced eight trucks, but then decided to inc
3. The components of marginal revenue Asim's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Asim initially produced eight trucks, but then decided to inc
The components ofmarginal revenuerefer to the factors that contribute to changes in revenue as a result of producing and selling additional units of aproduct. In the case of Asim's HookNLadder, the components of marginal revenue would include:Additional revenue from selling each additional fireengine: As Asim produces andsellsmore trucks, there is an increase in total revenue due to the price at which each fire engine is sold.Impact on quantity sold:Producingand selling more fire engines may lead to changes in thequantitysold. Factors such as market demand and competition can influence the number of units sold and, consequently, the overall revenue generated.Changes in price: Asim's pricingstrategymay affect marginal revenue. Adjusting the price of fireengines, either higher or lower, can influence the revenue earned from each unit sold and impact the overall marginal revenue.By considering thesecomponents, Asim can assess the effects of increasing production and determine the optimal quantity of fire engines to produce in order to maximize his marginalrevenue.To learn more aboutproduct,click here.brainly.com/question/33332462#SPJ4...