Table 14-3
The table represents a demand curve faced by a firm in a competitive market.

$$\begin{array} { | c | c | }
\hline \begin{array} { c }
\text { Quantity Demanded } \
\text { (Units) }
\end{array} & \begin{array} { c }
\text { Total Revenue } \
\text { (Dollars) }
\end{array} \
\hline 13 & 91 \
\hline 15 & 105 \
\hline 17 & 119 \
\hline 19 & 133 \
\hline 21 & 147 \
\hline
\end{array}$$
-Refer to Table 14-3. For this firm, the average revenue when 17 units are produced and sold is

Question

Table 14-3
The table represents a demand curve faced by a firm in a competitive market.
​
 $$\begin{array} { | c | c | } 
\hline \begin{array} { c } 
\text { Quantity Demanded } \
\text { (Units) }
\end{array} & \begin{array} { c } 
\text { Total Revenue } \
\text { (Dollars) }
\end{array} \
\hline 13 & 91 \
\hline 15 & 105 \
\hline 17 & 119 \
\hline 19 & 133 \
\hline 21 & 147 \
\hline
\end{array}$$
-Refer to Table 14-3. For this firm, the average revenue when 17 units are produced and sold is

Quizplus · Accepted Answer

Average revenue is calculated by dividing total revenue by the quantity demanded. For 17 units, the total revenue is $119. Therefore, the average revenue is $119 / 17 = $7.

Table 14-3 the Table Represents a Demand Curve Faced by a Firm

Table 14-3
the Table Represents a Demand Curve Faced by a Firm