Voss Calculator Company has a monopoly on the sale of graphing calculators. If it sells two of these calculators its total revenue is $500, and if it sells three calculators its total revenue is $700. The marginal revenue of the third calculator sold is
A. $100.
B. $150.
C. $200.
D. $700.
Answer: C
You might also like to view...
What does the Ricardo-Barro Effect predict?
A) The level of saving in a developed economy will be very low. B) Government budget deficits crowd out private investment. C) Private saving will offset the impact of government borrowing. D) There is no way to explain animal spirits or irrational exuberance. E) Net investment and gross investment will be equal.
Regulation of the financial system
A) occurs only in the United States. B) protects the jobs of employees of financial institutions. C) protects the wealth of owners of financial institutions. D) ensures the stability of the financial system.
When restrictions alter the pattern of international trade, the _____ benefit and the _____ suffer(s)
a. domestic consumers; domestic producers b. domestic consumers; government c. domestic producers; domestic consumers d. foreign producers; domestic producers e. foreign producers; domestic consumers
The repurchase agreement market dried up during the Great Recession because:
a. Counterparty risk increased, which caused normal lending channels to fail and lines of business to shrink. b.The collateral backing these agreements fell in value, causing large massive calls for additional collateral. c. Many participants were uncertain about the value of the securities backing these agreements. d. All of the above.