Suppose the accompanying table describes the demand for a good produced by monopolist.
$$\begin{array} { | c | c | }
\hline \text { Price } & \text { Quantity } \
\hline \$ 10 & 1 \
\hline \$ 9 & 2 \
\hline \$ 8 & 3 \
\hline \$ 7 & 4 \
\hline \$ 6 & 5 \
\hline \$ 5 & 6 \
\hline \$ 4 & 7 \
\hline
\end{array}$$
The total revenue from selling 6 units is ________, and the marginal revenue of selling the 6?? unit is ________.
A)$5; 5
B)$30; 0
C)$24; $5
D)$30; $1

Question

Suppose the accompanying table describes the demand for a good produced by monopolist.  
$$\begin{array} { | c | c | } 
\hline \text { Price } & \text { Quantity } \
\hline \$ 10 & 1 \
\hline \$ 9 & 2 \
\hline \$ 8 & 3 \
\hline \$ 7 & 4 \
\hline \$ 6 & 5 \
\hline \$ 5 & 6 \
\hline \$ 4 & 7 \
\hline
\end{array}$$
 The total revenue from selling 6 units is ________, and the marginal revenue of selling the 6?? unit is ________. 
A)$5; 5
B)$30; 0
C)$24; $5
D)$30; $1

Quizplus · Accepted Answer

Total revenue for selling 6 units is calculated by multiplying the price at which 6 units are sold ($5) by the quantity sold (6), which equals $30. Marginal revenue is the change in total revenue from selling one more unit, which in this case is $0 because the total revenue does not increase when moving from the 5th to the 6th unit.

Suppose the Accompanying Table Describes the Demand for a Good