Scenario 10.2: A Monopolist Faces the Following Demand Curve, Marginal Revenue Curve

question 101

Multiple Choice

Scenario 10.2:
A monopolist faces the following demand curve, marginal revenue curve, total cost curve and marginal cost curve for its product:
Q = 200 - 2P
MR = 100 - Q
TC = 5Q
MC = 5
-Refer to Scenario 10.2. Suppose that in addition to the tax, a business license is required to stay in business. The license costs $1000. What is the profit maximizing level of output?

• A) 0
• B) 90
• C) 95
• D) 100
• E) none of the above

Identify the correct formula for calculating degrees of freedom in contingency tables.

Formulate null and alternative hypotheses for hypothesis testing involving multiple proportions or binomial parameters.

Distinguish between different statistical tests for analyzing nominal data.

Recognize the correct requirements of expected frequencies for the validity of the chi-square test.

---

Definitions:

Psychoanalytic Approach

A method in psychology which posits that human behavior is the result of interactions among various unconscious psychological processes.

Mental Conflicts

Internal struggles that occur when incompatible demands, desires, or impulses compete for a person's attention.

Phenomenological Approach

A method in psychology that focuses on the study of consciousness and the objects of direct experience through the viewpoint of the experiencing person.

Humanistic

A psychological perspective that emphasizes the study of the whole person and the uniqueness of each individual's experience.