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

question 126

Multiple Choice

Refer to the information provided in Table 13.4 below to answer the question(s) that follow.
Table 13.4
$$\begin{array} { | c | c | } \hline \text { Price (\$) } & \text { Quantity } \\\hline 20.00 & 1 \\\hline 18.00 & 2 \\\hline 16.00 & 3 \\\hline 14.00 & 4 \\\hline 12.00 & 5 \\\hline 10.00 & 6 \\\hline 8.00 & 7 \\\hline\end{array}$$
-Refer to Table 13.4. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $8 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.

• A) $12; 5
• B) $14; 4
• C) $10; 6
• D) $18; 2

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Definitions:

Bonobos

A species of great ape known for their matriarchal societies and complex social behaviors, closely related to humans and chimpanzees.

Reconciliation

In primatology, a friendly reunion between former opponents not long after a conflict.

Bonobos

A species of ape closely related to humans, notable for its matriarchal society and frequent use of social and sexual interactions to maintain community bonds and resolve conflicts.

Polyandrous Families

Social units where a woman has multiple husbands at the same time.