Figure: Canada & Europe

question 121

Multiple Choice

Figure: Canada & Europe
A monopolist sells its output in two markets: Canada and Europe, as shown in these figures. To maximize profits, the monopolist should:

• A) set a price of $10 in both markets.
• B) set a price of $10 in Canada and $7.50 in Europe.
• C) set a price equal to $5, or marginal cost, in Canada and Europe.
• D) sell 20 units in Canada and 10 units in Europe.

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Definitions:

Pilot Light

An indicator light used on control panels or equipment to indicate operational status or to highlight warnings to the operator.

Thermocouples

Devices that measure temperature based on the voltage generated at the junction of two different metals.

PLC Programmed Rung

A specific command or instruction set within a Programmable Logic Controller that executes part of the control process as depicted in ladder logic.

PLC Input

An input signal or data received by a Programmable Logic Controller, used to control or monitor machine operations.