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Sublight2097 Sublight2097
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8 years ago
A price searcher faces the following demand function: At $7, 6, 5, 4, and $3, the quantity demanded is 300, 400, 500, 600, and 700 units respectively. Which statement below is true?
A) Total revenue is $11,500.
B) Marginal revenue is $300 when the price is $5.
C) Marginal revenue is $100 when the price is $5.
D) Marginal revenue is $2100 when the price is $3.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SydnieSydnie
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#1
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8 years ago
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Sublight2097 Author
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#2
8 years ago
Seriously, you've been tremendously helpful! Thank you.
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#3
8 years ago
I was confident with my answer, glad it was correct.

Oh, and thumbs-up are more than welcome Slight Smile
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#4
3 years ago
Thank you
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