Table 14-3
the Table Represents a Demand Curve Faced by a Firm

question 47

Multiple Choice

Table 14-3
The table represents a demand curve faced by a firm in a competitive market.
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$$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Quantity Demanded } \\\text { (Units) }\end{array} & \begin{array} { c } \text { Total Revenue } \\\text { (Dollars) }\end{array} \\\hline 13 & 91 \\\hline 15 & 105 \\\hline 17 & 119 \\\hline 19 & 133 \\\hline 21 & 147 \\\hline\end{array}$$
-Refer to Table 14-3. For this firm, the marginal revenue of the 15th unit is

• A)$1.
• B)$2.
• C)$7.
• D)The marginal revenue cannot be determined without knowing the total revenue when 15 units are sold.

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Definitions:

Stock Split

A corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares, though the overall market capitalization remains the same.

Market Price

The present cost at which a service or asset is available for purchase or sale in the open market.

Paid-In Capital

The amount of capital provided by shareholders in exchange for shares of a company's stock.

Stock Split

A corporate action that increases the number of a corporation's outstanding shares by dividing each share, which in turn reduces the price per share.