When a Certain Monopoly Sets Its Price at $8 It

question 6

Multiple Choice

When a certain monopoly sets its price at $8 it sells 64 units. When the monopoly sets its price at $9 it sells 62 units. The marginal revenue for the firm over this range is

• A)$18.
• B)$23.
• C)$46.
• D)$92.

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Definitions:

Competitive pressures

The dynamic forces within a market that cause organizations to compete more rigorously for customers, resources, and market share, often driving innovation and efficiency improvements.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale.

Workplace-level employee representation

The practice of having employees represented by fellow workers or a union at the level of their individual workplace to negotiate conditions and address concerns.

Employee delegates

Representatives chosen by workers to act on their behalf in discussions or negotiations with management.