Use the Following to Answer Question

question 31

Multiple Choice

Use the following to answer question:
Figure: Demand and Marginal Revenue
-(Figure: Demand and Marginal Revenue) Use Figure: Demand and Marginal Revenue.The figure refers to a software upgrade.The producer incurred fixed costs of $10 million to produce the upgrade;the marginal cost of allowing consumers to download the upgrade is zero.What is the efficient price of the upgrade?

• A)$0
• B)$50
• C)$75
• D)$100

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Definitions:

European Union

A political and economic union of 27 European countries that have agreed to abide by common policies on a range of issues, including trade, security, and laws.

Trade Barriers

Measures used by countries to restrict international trade and protect domestic industries, including tariffs, quotas, and subsidies.

Accounting Services

Professional services that include the maintenance, auditing, and reporting of financial statements and records for individuals or businesses.

Free Foreign Trade

The exchange of goods and services across international borders or territories without the imposition of restrictions such as tariffs, quotas, or other barriers.