Solved

(Table) Based on the Table, What Is the Shape of the Demand

Question 72

Multiple Choice

(Table) Based on the table, what is the shape of the demand curve that faces John's Tricycle Company?
 Output  Marginal  Cost  Total  Revenue 51,2007,50061,3009,00071,40010,50081,50012,00091,60013,500\begin{array}{|c|c|c|}\hline \text { Output } & \begin{array}{c}\text { Marginal } \\\text { Cost }\end{array} & \begin{array}{c}\text { Total } \\\text { Revenue }\end{array} \\\hline 5 & 1,200 & 7,500 \\\hline 6 & 1,300 & 9,000 \\\hline 7 & 1,400 & 10,500 \\\hline 8 & 1,500 & 12,000 \\\hline 9 & 1,600 & 13,500 \\\hline\end{array}


A) downward sloping
B) horizontal
C) vertical
D) upward sloping

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents