Consider the Price and Quantity Data Below for a Perfectly

question 47

Multiple Choice

Consider the price and quantity data below for a perfectly competitive firm producing mousetraps. $\begin{array}{|l|l|}\hline {\text { Price (\$) }} & \text { Quantity } \\\hline 5 & 1000 \\\hline 5 & 1250 \\\hline 5 & 1500 \\\hline 5 & 1750 \\\hline 5 & 2000 \\\hline\end{array}$ TABLE 9- 1
-Refer to Table 9- 1.If this firm is producing 1250 mousetraps,its total revenue is ,its average revenue is and its marginal revenue is .

• A)$1750; $250; $5
• B)$6250; $5; $5
• C)$6250; $250; $5
• D)$5000; $5; $250
• E)$5; $5; $5

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Definitions:

Reasonable Source

A credible or reliable origin of information or data that is considered acceptable or trustworthy for making decisions or drawing conclusions.

Sold Receivables

The process of a company selling its receivables to a third party to improve its cash flow.

Maturity Date

The date on which the final payment on the bond is due from the bond issuer to the investor.

Note Receivable

A financial asset representing a written promise for a debtor to pay a specified sum of money to the creditor on a determined future date or on demand.