A Monopoly Sells 5 Units of Output at $20

question 134

Multiple Choice

A monopoly sells 5 units of output at $20. If the MR of the 6th unit is $14, then the price of the 6th unit is

• A) also $14.
• B) $17.
• C) greater than $20.
• D) $19.

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Definitions:

Hunger Pangs

Physical sensations of discomfort or pain in the stomach area, typically indicating a need to consume food.

Acculturation-Avoidance

The active resistance or refusal to adopt the cultural norms or practices of another group, often leading to the preservation of one's original cultural identity.

Approach-Avoidance

Refers to the internal psychological conflict that arises when a single goal is both attractive and unattractive simultaneously.

Ten-Year-Old

A term used to describe someone or something that is exactly ten years of age.