When the Monopoly Firm Sells Two Units of Its Product

question 27

Multiple Choice

When the monopoly firm sells two units of its product, it earns total revenue of $960 and it incurs a total cost of $870. If its marginal revenue for the second unit was $475, what was the marginal revenue of the first unit?

• A)$90
• B)$485
• C)$395
• D)$1,355
• E)There is not enough information to answer the question.

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Definitions:

Extraverted Sensing

A cognitive function in Jungian psychology that focuses on perceiving external stimuli in the present moment through the five senses.

Introverted Sensing

A cognitive function in psychological typologies, notably in the Myers-Briggs Type Indicator (MBTI), focused on recalling past experiences and sensing details in the immediate environment.

Persona Archetype

The public face or role a person presents to others.

Psychological Functions

The varied processes by which individuals perceive, think, feel, and act, often discussed in the context of understanding human behavior and mental health.