The Above Table Shows a Sample of Prices and the Quantity

question 51

Multiple Choice

The above table shows a sample of prices and the quantity sold by a monopolist.
-Refer to the table above. What is the monopolist's total revenue if they charge a price of $95?

• A)$10
• B)$9,450
• C)$95
• D)$9,500

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Definitions:

Market Price

The going rate at which a service or asset can be sold or bought in the marketplace.

Conservation

The responsible management of the environment and natural resources to prevent depletion and harm, ensuring their sustainability for future generations.

Property Rights

Rights that legally entitle individuals to own, utilize, and transfer both physical and intellectual property.

Open Ocean

Refers to the vast, deep body of saltwater that covers most of the Earth's surface, not enclosed by land.