When a monopolist sells two units of output its total revenue is $150. When a monopolist sells three units of output its total revenue, is $210. When the monopolist sells three units of output, the price per unit is
A. $50.
B. $60.
C. $70.
D. $75.
Answer: C
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When wealth ________, saving supply ________, and the supply of loanable funds curve shifts ________
A) increases; increases; rightward B) decreases; decreases; leftward C) increases; increases; leftward D) increases; decreases; leftward E) decreases; decreases; rightward
A major shortcoming of a barter economy is
A) the requirement of specialization and exchange. B) that money loses value over time from inflation. C) the requirement of a double coincidence of wants. D) that most goods and services cannot be traded.
A natural experiment always has a control group, which is affected by the policy change, and a treatment group, which is not affected by the policy change.
Answer the following statement true (T) or false (F)
If a perfectly competitive firm raises the price it charges to consumers, which of the following is the most likely outcome?
A) The firm's revenue will not change because some consumers will refuse to pay the higher price. B) The firm will not sell any output. C) The firm's total revenue will increase only if the demand for its product is inelastic. D) The firm's total revenue will increase only if the demand for its product is elastic.