Table 14-4
A monopolist faces the following demand curve:

-Refer to Table 14-4.If the monopolist produces 10 units,what is its average revenue?
A) $100
B) $15
C) $10
D) $1

Question

Table 14-4
A monopolist faces the following demand curve:
 
-Refer to Table 14-4.If the monopolist produces 10 units,what is its average revenue?
A) $100 
B) $15 
C) $10 
D) $1

Quizplus · Accepted Answer

Average revenue is calculated by dividing total revenue by the quantity sold. If the monopolist produces 10 units, the average revenue is $10 per unit.

Table 14-4 A Monopolist Faces the Following Demand Curve