The Following Table Shows the Total Revenue (In Dollars) and Total

question 12

Multiple Choice

The following table shows the total revenue (in dollars) and total cost (in dollars) from the production and sale of different units of a product.
Table 2-1
$\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity } & \text { Total Revenue } & \text { Total Cost } \\\hline 15 & 1 & 15 & 3 \\\hline 14 & 2 & 28 & 7 \\\hline 13 & 3 & 39 & 12 \\\hline 12 & 4 & 48 & 18 \\\hline 11 & 5 & 55 & 25 \\\hline 10 & 6 & 60 & 33 \\\hline\end{array}$
-Refer to Table 2-1. What is the marginal revenue associated with the sale of the 5th unit of the good?

• A) $55
• B) $8
• C) $7
• D) $48
• E) $4

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