Table 14-4
The table represents a demand curve faced by a firm in a competitive market.
-Refer to Table 14-4. For this firm, the average revenue is
A)$0.
B)$5.
C)$10.
D)$15.

Question

Table 14-4
The table represents a demand curve faced by a firm in a competitive market. 
-Refer to Table 14-4. For this firm, the average revenue is
A)$0. 
B)$5. 
C)$10. 
D)$15.

Quizplus · Accepted Answer

Average revenue is total revenue divided by the number of units sold. In this case, total revenue is $50 and the number of units sold is 5. Therefore, average revenue is $50 / 5 = $10.

Table 14-4 The Table Represents a Demand Curve Faced by a Firm