Hi Phi Sound Unlimited Has a Monopoly Over the Installation

question 193

Multiple Choice

Hi Phi Sound Unlimited has a monopoly over the installation of surround sound systems. Hi Phi Unlimitedʹs total revenue from installing 20 sound systems is $30,000 and its total revenue from installing 21 sound systems is $33,800. The price of the 21st sound system is ________ the marginal revenue of that system.

• A) equal to
• B) greater than
• C) less than
• D) indeterminate from the given information

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Definitions:

Control Circuit

An electrical circuit designed to control the operation of devices in a system, often using low power signals to operate switches or relays controlling higher power circuits.

Pressure Tank Switch

A switch mechanism that activates or deactivates based on the pressure level within a storage tank.

Pilot Device

Manual controls like switches or buttons used to operate electrical equipment indirectly.