Table 15-1
-Refer to Table 15-1. What is the marginal revenue for the monopolist for the sixth unit sold?
A)$3
B)$5
C)$11
D)$17

Question

Table 15-1 
-Refer to Table 15-1. What is the marginal revenue for the monopolist for the sixth unit sold?
A)$3 
B)$5 
C)$11 
D)$17

Quizplus · Accepted Answer

To determine the marginal revenue, we need to look at the change in total revenue when selling an additional unit. From the table, we can see that total revenue increases from $45 to $50 when the sixth unit is sold. Therefore, the marginal revenue for the sixth unit is $5. To maximize profits, the monopolist should produce the output level where marginal revenue equals marginal cost. However, we do not have information about the monopolist's marginal cost, so we cannot determine the best choice for the monopolist.

Table 15-1 -Refer to Table 15-1. What Is the Marginal Revenue for Marginal