A Monopoly Earns Total Revenue of $20,000 When It Sells

question 89

True/False

A monopoly earns total revenue of $20,000 when it sells 200 units of output and total revenue of $22,000 when it sells 240 units of output. Thus, the marginal revenue of the 240th unit is $91.67.

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Definitions:

Personality Disorder

A type of mental disorder involving enduring patterns of behavior, cognition, and inner experience that deviate significantly from the expectations of the culture, are pervasive and inflexible, start in adolescence or early adulthood, are stable over time, and lead to distress or impairment.

Loner

An individual who prefers to be alone rather than with others, often by personal choice or as a result of social anxiety or other factors.

Cold

Relates to lower temperatures or a common viral infection causing respiratory symptoms, depending on context; not typically a psychological term.

Hypersensitivity

An exaggerated or heightened response to stimuli, which can be physical, such as in allergies, or emotional, such as in mental health disorders.