A price searcher faces the following demand function: At $7, 6, 5, 4, and $3, the quantity demanded is 300, 400, 500, 600, and 700 units respectively. Which statement below is true?

A) Total revenue is $11,500.
B) Marginal revenue is $300 when the price is $5.
C) Marginal revenue is $100 when the price is $5.
D) Marginal revenue is $2100 when the price is $3.

C

Economics

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