Consider the price and quantity data below for a perfectly competitive firm producing mousetraps.
TABLE 9-1
-Refer to Table 9-1.Suppose this firm is currently selling 1750 mousetraps at the market price of $5.If the firm raises its price to $6,its total revenue will be
A)$0.
B)greater than or equal to $1750.
C)greater than or equal to $6250.
D)$10 500.
E)greater than $10 500.

Question

Consider the price and quantity data below for a perfectly competitive firm producing mousetraps.
  TABLE 9-1
-Refer to Table 9-1.Suppose this firm is currently selling 1750 mousetraps at the market price of $5.If the firm raises its price to $6,its total revenue will be
A)$0. 
B)greater than or equal to $1750. 
C)greater than or equal to $6250. 
D)$10 500. 
E)greater than $10 500.

Quizplus · Accepted Answer

The Answer of Consider the price and quantity data below for a perfectly competitive firm producing mousetraps.
  TABLE 9-1
-Refer to Table 9-1.Suppose this firm is currently selling 1750 mousetraps at the market price of $5.If the firm raises its price to $6,its total revenue will be
A)$0. 
B)greater than or equal to $1750. 
C)greater than or equal to $6250. 
D)$10 500. 
E)greater than $10 500.

Consider the Price and Quantity Data Below for a Perfectly