Question

Taste of the Tropics is a manufacturer of fruit juice products. It recently reduced the amount of its premium juice line from 64-ounce containers to 52-ounce containers but kept the price the same. This is an example of

Answer 1

Taste of the Tropics is a company that makes fruit juices. It recently lowered the size of its premium juice brand from 64 to 52 ounce containers while maintaining the same pricing is the example of Marginal revenue.

What is marginal revenue?

Marginal revenue is the increase in income that results from the sale of one additional unit of output.

The law of diminishing returns states that while marginal revenue can remain constant for a particular quantity of output, it will eventually slow down as the output level grows.

Thus, it is an example of Marginal revenue.

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