When a Monopolist Sells Two Units of Output Its Total

question 183

Multiple Choice

When a monopolist sells two units of output its total revenue is $600. When a monopolist sells three units of output its total revenue is $630. In order to sell three units of output instead of only two, the monopolist must

• A) increase its price by $30 per unit.
• B) decrease its price by $90 per unit.
• C) make no change in price and increase output by one unit.
• D) decrease its price by $30 per unit.

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Definitions:

First-Line Manager

A supervisor directly overseeing the work of non-managerial employees, typically the lowest layer of management in an organizational hierarchy.

Department Manager's Lack

Refers to a situation where there is a deficiency or absence of leadership and decision-making in a specific department.

Visibility and Availability

The extent to which something can be easily seen and accessed by those who need it.

Management Style

The way a manager works with and oversees employees to achieve organizational goals.