Table 15-1

-Refer to Table 15-1. What is the marginal revenue for the monopolist for the 6th unit sold?

Name: Table 15-1 -Refer to Table 15-1. What is the marginal revenue for the monopolist for the 6th unit sold?
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Question

Table 15-1
 
-Refer to Table 15-1. What is the marginal revenue for the monopolist for the 6th unit sold?

Quizplus · Accepted Answer

Marginal revenue is the change in total revenue divided by the change in quantity sold. For the 6th unit sold, the change in total revenue is $20 - $15 = $5. The change in quantity sold is 1 unit. Therefore, the marginal revenue is $5 / 1 = $5.

Table 15-1 -Refer to Table 15-1. What Is the Marginal Revenue for the Marginal