Suppose the accompanying table describes the demand for a good produced by monopolist.PriceQuantity$101$92$83$74$65$56$47The monopolist's marginal revenue from selling the 4th unit of output is less than $7 because:
A. marginal cost is greater than $3.
B. demand is perfectly elastic.
C. the consumer only pays $4 for the 4th unit.
D. it has to charge $1 less for each of the first 3 units of output.
Answer: D
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