Given the following demand schedule, what is the marginal revenue (MR) for the 10th unit?| Quantity | Price ||---------|-------|| 9 | \$15 || 10 | \$14 |Assume the firm can sell all units at the listed price for each quantity.

• A. \$5
• B. \$9
• C. \$6
• D. \$14

Answer: (C)

Verified step by step guidance

1. Identify the total revenue (TR) at the quantity of 9 units by multiplying the price at 9 units by 9: \(TR_9 = 9 \times 15\).
2. Calculate the total revenue at the quantity of 10 units by multiplying the price at 10 units by 10: \(TR_{10} = 10 \times 14\).
3. Recall that marginal revenue (MR) is the change in total revenue from selling one more unit, so use the formula: \(MR = TR_{10} - TR_9\).
4. Substitute the values of \(TR_{10}\) and \(TR_9\) into the formula to find the marginal revenue for the 10th unit.
5. Interpret the result as the additional revenue generated by selling the 10th unit, considering the price decrease from \$15 to \$14.