Table 14-5
The table represents a demand curve faced by a firm in a competitive market.

-Refer to Table 14-5. For this firm, the average revenue when 14 units are produced and sold is

Question

Table 14-5
The table represents a demand curve faced by a firm in a competitive market.
 
-Refer to Table 14-5. For this firm, the average revenue when 14 units are produced and sold is

Quizplus · Accepted Answer

To find the average revenue, we divide the total revenue by the quantity. At a production level of 14 units, the total revenue is $126 (14 x 9). Dividing it by 14, we get an average revenue of $9. Therefore, the correct answer is (B) $9.

Table 14-5 The Table Represents a Demand Curve Faced by a Firm