Table 15-1

-Refer to Table 15-1.If the monopolist sells eight units of its product,how much total revenue will it receive from the sale
A)$40
B)$108
C)$112
D)$164

Question

Table 15-1
 
-Refer to Table 15-1.If the monopolist sells eight units of its product,how much total revenue will it receive from the sale
A)$40 
B)$108 
C)$112 
D)$164

Quizplus · Accepted Answer

Looking at the table, we can see that at 8 units of output, the monopolist's marginal revenue is $14. The total revenue can be calculated by multiplying the quantity sold (8) by the price per unit at this level of output, which is $14. Therefore, the total revenue will be 8 x 14 = $112. So, option C is the correct choice.

Table 15-1 -Refer to Table 15-1.If the Monopolist Sells Eight Units of Sells