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

question 137

Multiple Choice

Refer to the information provided in Table 13.3 below to answer the question(s) that follow.
Table 13.3
$$\begin{array} { | c | c | } \hline \text { Price } ( \$ ) & \text { Quantity } \\\hline 4.00 & 100 \\\hline 3.50 & 200 \\\hline 3.00 & 300 \\\hline 2.50 & 400 \\\hline 2.00 & 500 \\\hline 1.50 & 600 \\\hline 1.00 & 700 \\\hline\end{array}$$
-Refer to Table 13.3. 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 level of output that would maximize its profits?

• A) 200
• B) 400
• C) 500
• D) 600

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Definitions:

Personal Property Security Act

Legislation that provides rules for secured transactions involving personal property, ensuring interests are protected and prioritized.

Chattel Security

A type of security interest granting a lender the right to repossess personal property used as collateral if the borrower defaults.

Consumer Goods

Products and services that are purchased for personal or household use.

Collateral

Goods or property used to secure a debt.