Table 15-1
-Refer to Table 15-1. If the monopolist sells 8 units of its product, how much total revenue will it receive from the sale?
A)$14
B)$40
C)$112
D)$164

Question

Table 15-1 
-Refer to Table 15-1. If the monopolist sells 8 units of its product, how much total revenue will it receive from the sale?
A)$14 
B)$40 
C)$112 
D)$164

Quizplus · Accepted Answer

To find the total revenue received from selling 8 units of the product, we need to find the price at which the 8th unit is sold and multiply it by 8. From the table, we can see that the monopolist sells the 7th and 8th units at a price of $14 each. Thus, the total revenue received from selling 8 units is 8 x $14 = $112. Therefore, the correct choice is C.

Table 15-1 -Refer to Table 15-1. If the Monopolist Sells 8 Units