Use the table below to answer the following questions.
Table 12.4.1
-Table 12.4.1 shows the demand schedule faced by a perfect price-discriminating monopoly.If 3 units are sold,total revenue is
A)$15.00.
B)$16.00.
C)$18.00.
D)$19.50.
E)$5.00.

Question

Use the table below to answer the following questions.
Table 12.4.1 
-Table 12.4.1 shows the demand schedule faced by a perfect price-discriminating monopoly.If 3 units are sold,total revenue is
A)$15.00. 
B)$16.00. 
C)$18.00. 
D)$19.50. 
E)$5.00.

Quizplus · Accepted Answer

A perfect price-discriminating monopolist charges each consumer the maximum they are willing to pay for each unit. Therefore, for 3 units, the total revenue is the sum of the prices of the first 3 units.

Use the Table Below to Answer the Following Questions