The following table shows the price and revenue for a monopolist at different levels of production.The monopolist incurs no marginal cost of production.

$$\begin{array} { | c | c | c | }
\hline \text { Quantity } & \text { Price } & \text { Revenue } \
\hline 2 & 16 & 32 \
\hline 3 & 15 & 45 \
\hline 4 & 14.5 & 58 \
\hline 5 & 11.6 & 58 \
\hline 6 & 9.5 & 57 \
\hline 7 & 8 & 56\
\hline
\end{array}$$

-Refer to Table .Calculate the marginal revenue from the third unit.

Question

The following table shows the price and revenue for a monopolist at different levels of production.The monopolist incurs no marginal cost of production.

$$\begin{array} { | c | c | c | } 
\hline \text { Quantity } & \text { Price } & \text { Revenue } \
\hline 2 & 16 & 32 \
\hline 3 & 15 & 45 \
\hline 4 & 14.5 & 58 \
\hline 5 & 11.6 & 58 \
\hline 6 & 9.5 & 57 \
\hline 7 & 8 & 56\
\hline
\end{array}$$

-Refer to Table .Calculate the marginal revenue from the third unit.

Quizplus · Accepted Answer

Marginal revenue is the change in total revenue from selling one more unit. From the table, selling the third unit increases revenue from $32 to $45, a change of $13, not $11 as mistakenly indicated. However, given the options and the context, it seems there's a mistake in the interpretation of the question or options provided. The correct calculation should be $45 - $32 = $13, but since $13 is not an option and based on the provided choices, there might have been an error in the question or answer choices.

The Following Table Shows the Price and Revenue for a Monopolist