Answer please Table 14-4The following table presents cost and revenue information for a firm operating in a competitive industry.CostsRevenuesTotal Marginal QuantityCostCostDemanded(Units)(Dollars) (Dollars)012345678QuantitySupplied(Units)010011502202325743175385646575628682Refer to Table 14-4. What is the average revenue when 4 units are sold?O a. $197Ob. $120Oc. $60O d. $125--Price(Dollarsper unit)120120120120120120120120120TotalRevenue(Dollars)MarginalRevenue(Dollars)

I am little confused about your question, whether it's just MCQ or the table also needs to be…

Table 14-4 The following table presents cost and revenue information for a firm operating in a competitive industry. Costs Revenues Total Cost (Dollars) (Dollars) 100 150 202 257 317 5 385 6 465 7 562 8 682 Refer to Table 14-4. What is the average revenue when 4 units are sold? O a. $197 Ob. $120 O c. $60 O d. $125 Quantity Supplied (Units) 0 1 2 3 4 Marginal Quantity Cost Demanded (Units) 0 1 2 3 4 5 6 7 8 Price (Dollars per unit) 120 120 120 120 120 120 120 120 120 Total Marginal Revenue Revenue (Dollars) (Dollars)

Table 14-4 The following table presents cost and revenue information for a firm operating in a competitive industry. Costs Revenues Total Cost (Dollars) (Dollars) 100 150 202 257 317 5 385 6 465 7 562 8 682 Refer to Table 14-4. What is the average revenue when 4 units are sold? O a. $197 Ob. $120 O c. $60 O d. $125 Quantity Supplied (Units) 0 1 2 3 4 Marginal Quantity Cost Demanded (Units) 0 1 2 3 4 5 6 7 8 Price (Dollars per unit) 120 120 120 120 120 120 120 120 120 Total Marginal Revenue Revenue (Dollars) (Dollars)

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 5E

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How does fixed cost affect marginal cost? Why is this relationship important?
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