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

question 77

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 producing at point A on the demand curve,selling 100 units of output at a price of $60 per unit.If the firm moves to point B,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)$1000; $5000
• B)$2000; $5000
• C)$5000; $2000
• D)$100; $200
• E)$100; $500

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Definitions:

Imprinting

A rapid learning process that occurs early in the life of a social animal, such as a bird, wherein it forms attachments and develops a concept of its own identity.

Bronfenbrenner's Systems

A theoretical model that explores how different environmental systems influence human development, ranging from immediate surroundings to broader societal cultures.

Microsystem

The immediate settings with which the child interacts, such as the home, the school, and the child’s peers.

Exosystem

Community institutions and settings that indirectly influence the child, such as the school board and the parents’ workplaces (from the Greek exo, meaning “outside”).