Refer to the Information Provided in Table 13 -Refer to Table 13

question 7

Multiple Choice

Refer to the information provided in Table 13.1 below to answer the question(s) that follow.
Table 13.1
$$\begin{array} { | c | c | } \hline \text { Price } ( \$ ) & \text { Quantity } \\\hline 4.00 & 2,000 \\\hline 3.50 & 2,400 \\\hline 3.00 & 2,800 \\\hline 2.50 & 3,200 \\\hline 2.00 & 3,600 \\\hline 1.50 & 4,000 \\\hline 1.00 & 4,400 \\\hline\end{array}$$
-Refer to Table 13.1. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $1 per unit of providing the product, what is the most the monopoly would expend in rent-seeking activity?

• A) $4,800
• B) $5,600
• C) $6,000
• D) $8,400

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Definitions:

Fixed Action Pattern

Innate, pre-programmed responses triggered by specific stimuli in animals.

Sound Frequency

The number of vibrations or cycles per second of a sound wave, measured in hertz (Hz), determining the pitch of the sound.

Male Flies

Refers to the male specimens of flies, frequently studied in research for understanding genetics, behavior, and disease transmission.

Stimulus Filtering

The mechanism by which an organism discriminates between important and irrelevant stimuli in its environment to focus on survival-relevant information.