Refer to the Following Table That Gives the Demand Facing $$\begin{array} { c c } \text { Price } & \text { Quartity } \\\hline \$ 20 & 20 \\15 & 40 \\10 & 65 \\5 & 70\end{array}$$

question 2

Multiple Choice

Refer to the following table that gives the demand facing a monopolist: $$\begin{array} { c c } \text { Price } & \text { Quartity } \\\hline \$ 20 & 20 \\15 & 40 \\10 & 65 \\5 & 70\end{array}$$ If a firm earns profits of $250 by producing 40 units of output,the firm charges a price of _____ and has total costs of ______.

• A)$15,$250
• B)$15,$350
• C)$20,$150
• D)$600,$450
• E)none of the above

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Definitions:

Bedrock

The solid rock layer beneath soil, loose rocks, or other surface materials.

Sea Cave

A cave at the base of a sea cliff, usually flooded by seawater.

Erosion Promontory

A high point of land that extends into a body of water, formed from the resistance of its materials to weathering and erosion.

Seafloor Spreading

The process by which new oceanic crust is created at mid-ocean ridges and gradually moves away from the ridge, contributing to continental drift.