(Figure: Revenue Schedule) Demand and Marginal Schedule
in the Figure

question 8

Multiple Choice

(Figure: Revenue Schedule) Demand and Marginal Schedule
In the figure, what is the marginal revenue for the first unit?
$\begin{array}{|l|l|l|}\hline \text { Price } & \text { Quantity } & \begin{array}{l}\text { Total } \\\text { Revenue }\end{array} \\\hline \$ 9 & 0 & 0 \\\hline 8 & 1 & \$ 8 \\\hline 7 & 2 & 14 \\\hline 6 & 3 & 18 \\\hline 5 & 4 & 20 \\\hline\end{array}$

• A) zero
• B) $4
• C) $6
• D) $8

---

Definitions:

Investing

The act of allocating resources, usually money, with the expectation of generating an income or profit.

Demand for Insurance

The desire or willingness of individuals or entities to pay for financial protection against certain risks or potential losses.

Quantity Demanded

Quantity demanded is the amount of a good that buyers are willing and able to purchase at a particular price over a specified period.

Insurance Policy

A contract between an insurer and a policyholder in which the insurer agrees to pay for specified losses in exchange for a premium.