Table 14-2
The table represents a demand curve faced by a firm in a competitive market.

$$\begin{array} { | c | c | }
\hline \begin{array} { c }
\text { Price } \
\text { (Dollarsper unit) }
\end{array} & \begin{array} { c }
\text { Quantity Demanded } \
\text { (Units) }
\end{array} \
\hline 5 & 0 \
\hline 5 & 1 \
\hline 5 & 2 \
\hline 5 & 3 \
\hline 5 & 4 \
\hline 5 & 5 \
\hline
\end{array}$$
-Refer to Table 14-2. This firm maximizes total revenue by producing

Question

Table 14-2
The table represents a demand curve faced by a firm in a competitive market.
​
​
 $$\begin{array} { | c | c | } 
\hline \begin{array} { c } 
\text { Price } \
\text { (Dollarsper unit) }
\end{array} & \begin{array} { c } 
\text { Quantity Demanded } \
\text { (Units) }
\end{array} \
\hline 5 & 0 \
\hline 5 & 1 \
\hline 5 & 2 \
\hline 5 & 3 \
\hline 5 & 4 \
\hline 5 & 5 \
\hline
\end{array}$$
-Refer to Table 14-2. This firm maximizes total revenue by producing

Quizplus · Accepted Answer

Total revenue is maximized when the firm produces as many units as possible since the price remains constant at $5 per unit regardless of the quantity demanded.

Table 14-2 the Table Represents a Demand Curve Faced by a Firm

Table 14-2
the Table Represents a Demand Curve Faced by a Firm