Voss Calculator Company Has a Monopoly on the Sale of Graphing

question 312

Multiple Choice

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.

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Definitions:

Gold Standard

A monetary system where a country's currency or paper money has a value directly linked to gold; countries committed to convert paper money into a fixed amount of gold upon request.

Gold Exchange Standard

A monetary system in which countries peg their currencies to a specific amount of gold but may also hold foreign currencies in reserves.

Euro

The official currency of 19 of the 27 European Union countries, which is used by over 340 million Europeans. The euro aims to facilitate a single European market, foster economic stability, and promote economic integration among its members.

Debtor Nation

A country that owes more to foreign entities than it is owed, having a negative net investment position globally.