At a Price of $5, 24 Units of the Good

question 168

Multiple Choice

At a price of $5, 24 units of the good would be sold; at a price of $7, 25 units of output would be sold. The marginal revenue of the 25th unit of output is:

• A) $14.
• B) $55.
• C) $6.
• D) $168.
• E) $175.

---

Definitions:

Group Means

The average values obtained from the data points of each group or category under examination in a study.

Statistical Significance

Indicating that the observed results are unlikely to occur by chance alone, according to a predetermined threshold of probability.

Null Hypothesis

The hypothesis that there is no significant difference between specified populations, any observed difference being due to sampling or experimental error.

Research Hypothesis

A statement predicting a significant relationship between variables that is tested through research.