Table 14-4
The following table presents cost and revenue information for a firm operating in a competitive industry.

Costs Revenues

Quantity Supplied

(Units)

Total Cost

(Dollars)

Marginal Cost

(Dollars)

Quantity Demanded

(Units)

Price

(Dollars per unit)

Total Revenue

(Dollars)

Marginal Revenue

(Dollars)

0 100 -- 0 120 --
1 150 1 120
2 202 2 120
3 257 3 120
4 317 4 120
5 385 5 120
6 465 6 120
7 562 7 120
8 682 8 120

Refer to Table 14-4. What is the total revenue from selling 4 units?

Question

Table 14-4
The following table presents cost and revenue information for a firm operating in a competitive industry.

​

Costs	Revenues

Quantity Supplied

(Units)

Total Cost

(Dollars)

Marginal Cost

(Dollars)

Quantity Demanded

(Units)

Price

(Dollars per unit)

Total Revenue

(Dollars)

Marginal Revenue

(Dollars)

0	100	--	0	120	 	--
1	150	 	1	120	 	 
2	202	 	2	120	 	 
3	257	 	3	120	 	 
4	317	 	4	120	 	 
5	385	 	5	120	 	 
6	465	 	6	120	 	 
7	562	 	7	120	 	 
8	682	 	8	120

​

Refer to Table 14-4. What is the total revenue from selling 4 units?

BlackTom AI · Accepted Answer

When evaluating the total revenue for selling 4 units, recall that total revenue equals price per unit times quantity sold. From the table, the price per unit for the corresponding quantity demanded of 4 units is 120 dollars. Thus, total revenue = 120 × 4 = 480 dollars.
Option 1: "$480". This aligns with the calculation above and represents the total revenue earned from selling 4 units.
Option 2: "$120". This is the price per unit, not total revenue. It would be the revenue if only one unit were sold, or it could represent unit price, not the aggregate revenue for 4 units.
Option 3: "$317". According to the table, 317 is the Total Cost at 4 units, not the revenue figure, so it incorrectly represents costs rather than revenue.
Option 4: "$257". This value corresponds to the Total Cost at 3 units, not the revenue at 4 units, and thus is not the correct revenue figure.

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类似问题

When a perfectly competitive firm sells additional units of output, its total revenue will

A firm has a demand curve of 𝑄 = 25 − 0.5 𝑃 . Which of the following is the correct revenue curve for this firm? Note that the horizontal axis on each graph is quantity and the vertical axis is revenue.

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Scenario 15-1A monopoly firm maximizes its profit by producing Q = 500 units of output. At that level of output, its marginal revenue is $40, its average revenue is $80, and its average total cost is $44.Refer to Scenario 15-1. At Q = 500, the firm's total revenue is

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Figure 5-7Refer to Figure 5-7. If, holding the supply curve fixed, there were an increase in demand that caused the equilibrium price to increase from $6 to $7, then sellers' total revenue would

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Figure 5-7Refer to Figure 5-7. If, holding the supply curve fixed, there were an increase in demand that caused the equilibrium price to increase from $6 to $7, then sellers' total revenue would

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