Table 91 -Refer to Table 9

question 168

Multiple Choice

Table 9.1
$$\begin{array} { | c | c | c | } \hline \text { Quantity } & \text { Price } & \text { Total Revenue } \\&\text { (dollars) } & \text { (dollars) } \\\hline 1 & 7.50 & 7.50 \\\hline 2 & 7.00 & 14.00 \\\hline 3 & 6.50 & 19.50 \\\hline 4 & 6.00 & 24.00 \\\hline 5 & 5.50 & 27.50 \\\hline 6 & 5.00 & 30.00 \\\hline\end{array}$$
-Refer to Table 9.1.What portion of the marginal revenue of the 4th unit is due to the output effect and what portion is due to the price effect?

• A) Output effect = $24.00; price effect = $19.50
• B) Output effect = $6.50; price effect = $2.00
• C) Output effect = -$0.50; price effect = $5.00
• D) Output effect = $6.00; price effect = -$1.50

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Definitions:

Widgets

Generic term for any unspecified or hypothetical device or product, often used in business or economics as a placeholder name.

Olive Oil

A liquid fat obtained from olives, commonly used in cooking, cosmetics, pharmaceuticals, and soaps.

Andalusia Region

A geopolitical and cultural region in the south of Spain, known for its historical significance and diverse heritage.

Olive Trees

Perennial plants known for their fruit and oil, significant in culinary, cosmetic, and health products, with cultural and economic importance in many regions.