The demand schedule for a firm is shown below P r i c e ( R s ) Q u a n t i t y 7 100 6 200 5 300 4 400 3 500 What is the maximum revenue for the firm? Options: A . &nbsp700 B . &nbsp1200 C . &nbsp1500 D . &nbsp1600

Answer: Option D : D Let us add the total revenue column using the relation T R = P × Q P r i c e ( R s ) Q u a n t i t y T R 7 100 700 6 200 1200 5 300 1500 4 400 1600 3 500 1500 We can see that maximum revenue of the firm is Rs 1600.

The demand schedule for a firm is shown below Price (Rs)Quantity7100620053

Question

The demand schedule for a firm is shown below

\begin{matrix} P r i c e (R s) & Q u a n t i t y 7 & 100 6 & 200 5 & 300 4 & 400 3 & 500 \end{matrix}

What is the maximum revenue for the firm?

Options:

A . 700

B . 1200

C . 1500

D . 1600

Answer: Option D
:
D
Let us add the total revenue column using the relation

T R = P \times Q

\begin{matrix} P r i c e (R s) & Q u a n t i t y & T R 7 & 100 & 700 6 & 200 & 1200 5 & 300 & 1500 4 & 400 & 1600 3 & 500 & 1500 \end{matrix}

We can see that maximum revenue of the firm is Rs 1600.

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