Refer to the Following Figure

question 44

Multiple Choice

Refer to the following figure:

The above graph shows the demand and cost conditions facing a price-setting firm.
-When output is 50 units, what will happen to total revenue if the firm sells another unit of output?

• A) Total revenue will increase $13.50.
• B) Total revenue will increase $11.00.
• C) Total revenue will increase $9.00.
• D) Total revenue will increase $6.00.
• E) none of the above

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Definitions:

Breach

An act of breaking or failing to observe a law, agreement, or code of conduct.

Principal's Termination

The end of an agency relationship by the decision of the principal, who is the individual or entity that has empowered another to act on their behalf.

Exclusive Agency

An agency in which a principal grants an agent an exclusive territory and does not allow another agent to compete in that territory.

Liable

Refers to being legally responsible to compensate or rectify a damage, loss, or breach of contract.