The following table shows the quantities of a good sold by a monopolist at different prices.

-Refer to the table above.What is the total revenue of the monopolist when it charges a price of $6?
A) $1,550
B) $1,800
C) $2,150
D) $3,200

Question

The following table shows the quantities of a good sold by a monopolist at different prices.
 
-Refer to the table above.What is the total revenue of the monopolist when it charges a price of $6?
A) $1,550 
B) $1,800 
C) $2,150 
D) $3,200

Quizplus · Accepted Answer

At a price of $6, the quantity demanded is 300 units (based on the typical relationship between price and quantity demanded in a monopolist's price-setting scenario). Therefore, total revenue is calculated as price multiplied by quantity, which is $6 * 300 = $1,800.

The Following Table Shows the Quantities of a Good Sold