The Diagram Below Shows the Demand Curve Facing a Single-Price

question 84

Multiple Choice

The diagram below shows the demand curve facing a single-price monopolist. FIGURE 10-4
-Refer to Figure 10-4.Suppose the firm is currently at point C on the demand curve,selling 300 units at $40 per unit.If the firm moves to point D,the revenue the firm gives up on the units it was already selling is ________ and the revenue it gains on the additional units sold is ________.

• A)$9000; $9000
• B)$12 000; $12 000
• C)$3000; 4000
• D)$4000; $3000
• E)$3000; $3000

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Definitions:

Expectancy Theory

A motivational theory suggesting that an individual's behavior is determined by their expected outcomes and the attractiveness of those outcomes.

Motivation

The internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role or subject, or to make an effort to attain a goal.

Skills

Abilities or expertise developed through practice or training that enable a person to perform tasks effectively.

Personal Mission Statement

A concise summary of an individual's core values and purposes, guiding their behaviors and decisions.