To determine the total revenue (TR) for the 15th unit, we'll follow these steps:
1. Identify the price corresponding to the 15th unit: According to the given demand schedule in the table, the price is [tex]$25 when the quantity sold is 15 units.
2. Calculate the total revenue: Total revenue (TR) is calculated by multiplying the price per unit by the quantity of units sold.
Given that the price for the 15th unit is $[/tex]25 and the quantity is 15 units, the total revenue (TR) is:
[tex]\[
TR = \text{Price} \times \text{Quantity}
\][/tex]
3. Insert the values into the formula:
[tex]\[
TR = \$25 \times 15
\][/tex]
4. Perform the multiplication:
[tex]\[
TR = 375
\][/tex]
Therefore, the total revenue for selling the 15th unit is $375.
