-The table above gives the demand for a monopolist's output.What is the total revenue in when 3 units of output are produced?
A) $21
B) $20
C) $18
D) $6

Question

-The table above gives the demand for a monopolist's output.What is the total revenue in when 3 units of output are produced?
A) $21 
B) $20 
C) $18 
D) $6

Quizplus · Accepted Answer

Total revenue is calculated by multiplying the price per unit by the quantity sold. For 3 units, if the price per unit is $6 (as it would be in a typical demand schedule for a monopolist where price decreases with additional units sold), then total revenue for 3 units is 3 units * $6/unit = $18.

-The Table Above Gives the Demand for a Monopolist's Output