Table 14-16
The table represents the demand information for a firm in a competitive market.
-Refer to Table 14-16. For this firm, when output is equal to 12 units, average revenue is
A)$15.
B)$150.
C)always greater than marginal revenue.
D)decreasing.

Question

​Table 14-16
The table represents the demand information for a firm in a competitive market.  ​
-Refer to Table 14-16. For this firm, when output is equal to 12 units, average revenue is
A)​$15. 
B)​$150. 
C)​always greater than marginal revenue. 
D)​decreasing.

Quizplus · Accepted Answer

Average revenue is calculated by dividing total revenue by the quantity of output. At 12 units of output, total revenue is $180, which when divided by 12 units, equals an average revenue of $15.

​Table 14-16 the Table Represents the Demand Information for a Firm in Firm

Table 14-16 the Table Represents the Demand Information for a Firm in Firm