Table 17-2
the Information in the Following Table Shows the Total

question 12

Multiple Choice

Table 17-2
The information in the following table shows the total demand for internet radio subscriptions in a small urban market. Assume that each company that provides these subscriptions incurs an annual fixed cost of $20,000 (per year) and that the marginal cost of providing an additional subscription is always $16.
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$$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Quantity Demanded } \\\text { (Internet radio } \\\text { sub scriptions) }\end{array} & \begin{array} { c } \text { Price } \\\text { (Dollars per subscription } \\\text { per year) }\end{array} \\\hline 0 & 64 \\\hline 500 & 60 \\\hline 1,000 & 56 \\\hline 1,500 & 52 \\\hline 2,000 & 48 \\\hline 2,500 & 44 \\\hline 3,000 & 40 \\\hline 3,500 & 36 \\\hline 4,000 & 32 \\\hline 4,500 & 28 \\\hline 5,000 & 24 \\\hline 5,500 & 20 \\\hline 6,000 & 16 \\\hline 6,500 & 12 \\\hline 7,000 & 8 \\\hline 7,500 & 4 \\\hline 8,000 & 0 \\\hline\end{array}$$ ​
-Refer to Table 17-2. The socially efficient level of output supplied to this market is

• A)4,000
• B)5,000
• C)6,000
• D)8,000

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Definitions:

Intermolecular

Relating to or occurring between molecules, such as forces that govern the interactions and phase changes of substances.

Intramolecular

Describes forces or reactions occurring within a single molecule, as opposed to between different molecules.

Intermolecular Forces

The forces which mediate interaction between molecules, including hydrogen bonding, dipole-dipole interactions, and dispersion forces.

Physical Properties

These are characteristics of a substance that can be observed or measured without changing its identity, such as density, color, melting point, and boiling point.