Table 14-1

$$\begin{array} { | c | c | }
\hline \begin{array} { c }
\text { Price } \
\text { (Dollars per unit) }
\end{array} & \begin{array} { c }
\text { Quantity Demanded } \
\text { (Units) }
\end{array} \
\hline 5 & 0 \
\hline 5 & 2 \
\hline 5 & 4 \
\hline 5 & 6 \
\hline 5 & 8 \
\hline 5 & 10 \
\hline 5 & 12 \
\hline 5 & 14 \
\hline 5 & 16 \
\hline 5 & 18 \
\hline
\end{array}$$
-Refer to Table 14-1. If the firm doubles its output from 6 to 12 units, total revenue will
A)increase by less than $30.
B)increase by exactly $30.
C)increase by more than $30.
D)Total revenue cannot be determined from the information provided.

Question

Table 14-1
​
​
 $$\begin{array} { | c | c | } 
\hline \begin{array} { c } 
\text { Price } \
\text { (Dollars per unit) }
\end{array} & \begin{array} { c } 
\text { Quantity Demanded } \
\text { (Units) }
\end{array} \
\hline 5 & 0 \
\hline 5 & 2 \
\hline 5 & 4 \
\hline 5 & 6 \
\hline 5 & 8 \
\hline 5 & 10 \
\hline 5 & 12 \
\hline 5 & 14 \
\hline 5 & 16 \
\hline 5 & 18 \
\hline
\end{array}$$
-Refer to Table 14-1. If the firm doubles its output from 6 to 12 units, total revenue will
A)increase by less than $30.
B)increase by exactly $30.
C)increase by more than $30.
D)Total revenue cannot be determined from the information provided.

Quizplus · Accepted Answer

Total revenue is calculated as price multiplied by quantity. Since the price remains constant at $5 per unit, doubling the quantity from 6 to 12 units results in an increase in total revenue by $30 (6 units x $5 = $30).

Table 14-1 ​ ​ -Refer to Table 14-1

Table 14-1

-Refer to Table 14-1