Solved

Suppose the Table Below Describes the Relationship Between Price and Quantity

Question 12

Multiple Choice

Suppose the table below describes the relationship between price and quantity demanded for a monopolist.  Quantity  Price 1$102$93$84$75$66$57$48$3\begin{array} { | c | c | } \hline \text { Quantity } & \text { Price } \\\hline 1 & \$ 10 \\\hline 2 & \$ 9 \\\hline 3 & \$ 8 \\\hline 4 & \$ 7 \\\hline 5 & \$ 6 \\\hline 6 & \$ 5 \\\hline 7 & \$ 4 \\\hline 8 & \$ 3 \\\hline\end{array} The marginal revenue of the third unit of output is:


A) $24.
B) $8.
C) $6.
D) -$1.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions