Exhibit 7-1 Quantity and Total Revenue Data for a Firm

question 32

Multiple Choice

Exhibit 7-1 Quantity and total revenue data for a firm $$\begin{array} { | c | c | } \hline \text { Quantity } & \text { Total Revenue } \\\hline 0 &\$ 0 \\1 & 62 \\2 & 124 \\3 & 186 \\\hline\end{array}$$ Exhibit 7-1 indicates that this firm is operating in which type of market structure?

• A) The market structure cannot be determined from the information given.
• B) monopoly
• C) perfect competition
• D) monopolistic competition

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