If MC = Q/15 Represents Marginal Cost for a Monopolist

question 74

Multiple Choice

If MC = Q/15 represents marginal cost for a monopolist and market demand is given by Q_d = 500 - 10P, the monopolist maximizes profit by setting price equal to:

• A) $12.50.
• B) $20.00.
• C) $31.25.
• D) $50.00.

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Definitions:

Psychoactive Drug

A chemical substance that changes brain function and results in alterations in perception, mood, consciousness, cognition, or behavior.

Appetite

The desire to eat food, felt as hunger; a natural, instinctual response to the body's need for nutrition.

Pulse Rate

The number of times the heart beats per minute, indicating the heart rate and providing insights into one's cardiovascular health.

Cocaine

A powerful stimulant drug derived from the leaves of the coca plant, which can have serious addictive and health effects.