Table 14-1
-Refer to Table 14-1. Over which range of output is average revenue equal to price?

Name: Table 14-1 -Refer to Table 14-1. Over which range of output is average revenue equal to price?
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Question

Table 14-1 
-Refer to Table 14-1. Over which range of output is average revenue equal to price?

Quizplus · Accepted Answer

Average revenue is defined as total revenue divided by the quantity sold. In Table 14-1, price remains constant at $10 over the entire range of output. Therefore, average revenue is equal to price at every quantity sold. Therefore, the correct choice is D.

Table 14-1 -Refer to Table 14-1. Over Which Range of Output Is