Use the Table Below to Answer the Following Questions

question 2

Multiple Choice

Use the table below to answer the following questions.
Table 12.1.1

-Refer to Table 12.1.1 which gives the demand schedule for a perfectly competitive firm. If the quantity sold by the firm rises from 5 to 6, marginal revenue is

• A)$15.
• B)$30.
• C)$75.
• D)$90.
• E)$105.

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Definitions:

Cash Balance

The amount of cash a company or individual has available after all transactions have been accounted for.

Withdrawal

The act of taking money from an account, or the removal of assets or resources, often applicable in banking and partnerships.

Telephone Bill

A telephone bill is a periodic charge levied on individuals or businesses for the use of telecommunication services.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, leading to net profit or loss.