Suppose that a pure monopolist can sell 20 units of output at $10 per unit and 21 units at $9.75 per unit. The marginal revenue of the 21 st unit of output is:
A. $9.75.
B. $204.75.
C. $4.75.
D. $.25.
Answer: C
You might also like to view...
What is meant by the term "human capital"?
What will be an ideal response?
The production possibilities curve illustrates all of the following concepts except:
a. the law of increasing costs. b. unlimited wants. c. scarcity. d. opportunity cost. e. availability of resources.
An elasticity that would be considered only slightly inelastic would be
A. 0.1. B. 0.9. C. 1.0. D. 1.1.
A decrease in the supply curve of nurses could be accounted for by all of the following except a(n):
A. Increase in the rewards available in other comparable occupations B. Increase in the training requirements for nurses C. Reduction in the number of nursing schools D. Cut in the wages of nurses