A Monopoly Faces the Following Demand Curve P = 100

question 31

Multiple Choice

A monopoly faces the following demand curve P = 100 - y and MC = 20. The profit- maximizing price and quantity are, respectively:

• A)$40; 60.
• B)$45; 55.
• C)$80; 20.
• D)$60; 40.

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Definitions:

Technology Pressure

Technology pressure refers to the compulsion or urgent need for organizations or individuals to adopt new technologies to stay competitive or efficient in the modern digital landscape.

Societal Pressure

The influence that society exerts on individuals or organizations to adopt certain behaviors, practices, or norms.

Technological Innovation

The introduction of new technologies or the improvement of existing technologies to create new or improved products, services, or processes.

Digital Divide

The gap between individuals, households, businesses, and geographic areas at different socio-economic levels with regard to their opportunities to access information and communication technologies (ICTs).