A Pure Monopolist Is Selling 7 Units at a Price

question 366

Multiple Choice

A pure monopolist is selling 7 units at a price of $12. If the marginal revenue of the 8th unit is $4, then the price of the 8th unit is

• A) $10.
• B) $11.
• C) greater than $12.
• D) $4.

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Definitions:

Human Resource Planning

The process of identifying the current and future human resources needs of an organization to achieve its goals.

Reduction Strategy

Approaches businesses use to downsize, reduce costs, or streamline operations, often involving layoffs or selling off assets.

Implications

The possible effects or consequences that may result from a particular action or decision.

Market Wage Rates

The prevailing pay scale for work in a particular industry, occupation, or region, determined by the supply and demand for labor in the market.