Answer the Question on the Basis of the Accompanying Demand

question 61

Multiple Choice

Answer the question on the basis of the accompanying demand schedule. $\begin{array} { | c | c| } \hline \text { Price } & \text {Quantity Demanded } \\\hline \$ 7 & 1 \\\hline 6 & 2 \\\hline 5 & 3 \\\hline 4 & 4 \\\hline 3 & 5 \\\hline\end{array}$ The marginal revenue obtained from selling the fourth unit of output is

• A) $16.
• B) $3.
• C) $1.
• D) $4.

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Definitions:

Education Level

The highest degree or stage of education that an individual has completed.

Correlations

A measure showing the extent to which two or more variables fluctuate together.

Illusory Correlation

The mistaken perception of a relationship between two events or variables that are actually unrelated.

Positively Correlated

A relationship between two variables where they move in the same direction, meaning as one variable increases, so does the other, and vice versa.