Table 14-4
The following table presents cost and revenue information for a firm operating in a competitive industry.

-Refer to Table 14-4. What is the average revenue when 3 units are sold?

Question

Table 14-4
The following table presents cost and revenue information for a firm operating in a competitive industry.
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-Refer to Table 14-4. What is the average revenue when 3 units are sold?

Quizplus · Accepted Answer

Average revenue is calculated by dividing total revenue by the number of units sold. If 3 units are sold and the total revenue is $360, then the average revenue is $360/3 = $120.

Table 14-4 the Following Table Presents Cost and Revenue Information for a for a Firm