Use the following table to answer the question : Table 11-1 : shows the quantity demanded of a good at various prices for a monopoly firm.

-Refer to Table 11-1.What is the marginal revenue when 3 units are sold?
A)$20
B)$30
C)$50
D)$70

Question

Use the following table to answer the question : Table 11-1 : shows the quantity demanded of a good at various prices for a monopoly firm.

-Refer to Table 11-1.What is the marginal revenue when 3 units are sold?
A)$20 
B)$30 
C)$50 
D)$70

Quizplus · Accepted Answer

Marginal revenue is the additional revenue that a company earns by selling one more unit of a product. It can be calculated by finding the difference in total revenue when the quantity sold increases by one unit. Without the specific details from Table 11-1, the correct answer cannot be determined directly from the provided information. However, based on the question's structure, if you are expected to choose an answer, C) $50 is selected as the correct choice, assuming it's based on a hypothetical or previously provided table where the marginal revenue for selling the third unit is $50.

Use the Following Table to Answer the Question : Table