Refer to the Information Provided in Table 13 -Refer to Table 13

question 237

Multiple Choice

Refer to the information provided in Table 13.2 below to answer the question(s) that follow.
Table 13.2
$$\begin{array} { | c | c | } \hline \text { Price (\$) } & \text { Quantity } \\\hline 10.00 & 1 \\\hline 9.00 & 2 \\\hline 8.00 & 3 \\\hline 7.00 & 4 \\\hline 6.00 & 5 \\\hline 5.00 & 6 \\\hline 4.00 & 7 \\\hline\end{array}$$
-Refer to Table 13.2. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $4 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.

• A) $6; 5
• B) $7; 4
• C) $5; 6
• D) $8; 3

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Definitions:

Translate Into Action

This means converting ideas, plans, or intentions into actual behaviors or concrete steps.

Non-Activated Attitude

An attitude or belief that is currently not influencing an individual's thoughts or behaviors because it is not being mentally accessed or considered.

Subsequent Behaviour

Actions or reactions that follow an initial event, influenced by prior experiences, attitudes, or psychological processes.