Refer to the table above. What is the marginal revenue of the monopolist when it sells 200 units of its product?
A) $2
B) $5
C) $7
D) $9
B
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In the event of deflation, or negative inflation, then
a. real GDP is always lower than nominal GDP. b. real GDP is always lower than nominal GDP after the base year. c. real GDP is always lower than nominal GDP. d. real GDP is always higher than nominal GDP before the base year. e. None of the above
In terms of unemployment, hysteresis models try to explain why
a. cyclical unemployment is always present. b. structural unemployment cannot be eradicated. c. high unemployment persists even after its initial cause is long past. d. frictional unemployment is the cause of hysteresis.
Splitting up a monopoly is often justified on the grounds that
a. consumers prefer dealing with small firms b. small firms have lower costs c. competition is inherently efficient d. nationalization is a less preferred option e. monopolies are inevitable and desirable
Which of the following products has the least elastic demand?
A. Raspberry Mocha Kona coffee blend at Starbuck's B. Starbuck's coffee C. coffee D. all beverages