Table 9.4

$\begin{array}{lc}
\text { Price }(\$) & \text { Quantity } \
\hline 90 & 1 \
80 & 2 \
70 & 3 \
60 & 4 \
50 & 5
\end{array}$
-Refer to Table 9.4,which shows the demand schedule for a monopolist.Marginal revenue associated with the sale of the fourth unit of output is _____
A)$10.
B)$30.
C)$60.
D)$240.
E)$210.

Question

Table 9.4
​
 $\begin{array}{lc}
\text { Price }(\$) & \text { Quantity } \
\hline 90 & 1 \
80 & 2 \
70 & 3 \
60 & 4 \
50 & 5
\end{array}$
-Refer to Table 9.4,which shows the demand schedule for a monopolist.Marginal revenue associated with the sale of the fourth unit of output is _____
A)$10.
B)$30.
C)$60.
D)$240.
E)$210.

Quizplus · Accepted Answer

Marginal revenue (MR) is the change in total revenue from selling one more unit. To find the MR for the 4th unit, subtract the total revenue at 3 units from the total revenue at 4 units. Total revenue at 3 units is $70 \times 3 = 210$, and at 4 units is $60 \times 4 = 240$. The change in total revenue, or MR, is $240 - 210 = 30$.

Table 94 ​ Price ($) Quantity 901802703604505\begin{array}{lc}\text { Price }(\$) & \text { Quantity } \\\hline 90 & 1 \\80 & 2 \\70 & 3 \\60 & 4 \\50 & 5\end{array} Price ($)9080706050​ Quantity 12345​​

Table 94
$\begin{array}{lc}\text { Price }(\$) & \text { Quantity } \\\hline 90 & 1 \\80 & 2 \\70 & 3 \\60 & 4 \\50 & 5\end{array}$