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

question 359

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 societal loss associated with the monopoly?

• A) $0
• B) $225
• C) $450
• D) Indeterminate from the given information.

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Definitions:

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