To Answer the Question,refer to the Following Table Showing a Demand

question 16

Multiple Choice

To answer the question,refer to the following table showing a demand schedule: $\begin{array}{llcc}\underline{ \text {Price } }&\underline{ \text { Ouantity } } \\ &\underline{\text {demanded }} \\\$200 &1000\\150&1400\\100 &1800\\\end{array}$
As output increases from 1,000 to 1,400 what is marginal revenue?

• A)$25
• B)$50
• C)-$400
• D)-$25
• E)-$75

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Definitions:

Gross Rental Income

The total income received from renting out a property before any expenses are deducted.

Schedule E

A tax form used to report income or loss from rental property, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.

Schedule C

Schedule C is a tax form used by sole proprietors to report business income and expenses for tax purposes.

Schedule K-1

Schedule K-1 is a tax document used to report the income, deductions, and credits of a partnership or S corporation to its partners or shareholders.