Table 241 Monopoly Costs and Revenue In Table 24

question 147

Multiple Choice

Table 24.1 Monopoly Costs and Revenue
$$\begin{array} { | c | c | c | } \hline \text { Quantity } & \text { Price } & \text { Total Cost } \\\hline 1 & \$ 500 & \$ 400 \\\hline 2 & \$ 450 & \$ 650 \\\hline 3 & \$ 400 & \$ 950 \\\hline 4 & \$ 350 & \$ 1,300 \\\hline 5 & \$ 300 & \$ 1,700 \\\hline\end{array}$$ In Table 24.1,using the profit maximization rule,a monopolist that is able to practice price discrimination will charge

• A)A price of $450.
• B)A price of $400.
• C)A price of $500.
• D)Different prices to different customers.

---

Definitions:

Product Line

A group of related products marketed under a single brand by the same company.

Sun Protection

Measures or products designed to safeguard the skin from the harmful effects of the sun's UV rays.

Sunscreens

Products applied to the skin to protect against harmful effects of the sun's ultraviolet rays.

Unsought Product

Products that consumers do not normally think of buying or do not know about, often requiring aggressive selling and marketing strategies.