Use the Following to Answer Question

question 66

Multiple Choice

Use the following to answer question:
-(Table: Prices and Demand) The New Orleans Saints have a monopoly on Saints logo hats.The marginal cost of producing a hat is $18.If the Saints increase the number of hats they sell from 4 to 5,their total revenue changes from _____ to _____.

• A)$88;$100
• B)$22;$20
• C)$88;$80
• D)$110;$100

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Definitions:

Beliefs

Mental representations or attitudes towards certain propositions or states of the world, often based on personal judgment, faith, or understanding.

Expectations

Beliefs or forecasts about future events, based on past experiences, current information, or cultural norms.

Wolfgang Kohler

A German psychologist and one of the founders of Gestalt psychology, known for his work on insight learning.

Kanzi

A bonobo known for his ability to communicate using a form of sign language and understanding spoken English, demonstrating complex linguistic capabilities.