Refer to the information provided in Table 13.1 below to answer the question(s) that follow. Table 13.1Price ($)Quantity4.002,0003.502,4003.002,8002.503,2002.003,6001.504,0001.004,400Refer to Table 13.1. If a monopoly faces the demand schedule given in the table, what is its marginal revenue from the 4,000th unit it sells?
A. -$3
B. $1.50
C. $3
D. $1,200
Answer: A
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In the American economy, the central figure is the ________________.
Fill in the blank(s) with the appropriate word(s).
When allocating resources using market price
A) everyone who is willing and able to pay for a good gets one. B) everyone who wants a good gets one. C) everyone who is willing to pay for a good gets one. D) everyone who is able to pay for a good gets one.
Of the remedies for conflicts of interest, which one is the most intrusive?
A) regulate for transparency B) separation of functions C) supervisory oversight D) socialization of information production
Which of the following is NOT a private cost?
A) the health insurance costs a firm must pay for its employees B) the pollution caused by a firm dumping its wastes into the river C) the coffee pot that Jan dropped and broke this morning D) the amount that a firm must pay for raw materials to make its product