(Table: Prices and Demand) Look at the Table Prices and Demand.The

question 167

Multiple Choice

(Table: Prices and Demand) Look at the table Prices and Demand.The New Orleans Saints have a monopoly on Saints logo baseball hats.The Saints sell at most one hat to each customer, and the table shows each customer's willingness to pay.The marginal cost of producing a hat is $18.If the Saints were a perfectly competitive firm in a perfectly competitive industry, their profit-maximizing price and output, respectively, would be:

• A)$24; 3.
• B)$30; 0.
• C)$18; 6.
• D)$$8; 6.

---

Definitions:

Consequences

Outcomes or implications that result from an action or decision, affecting future events or behaviors.

Attitudes And Behaviors

The combination of mental and emotional dispositions toward something, and the actions that reflect those dispositions.

Situation

A set of circumstances or facts that are happening at a particular time and place.

Reward

A benefit or return gained as a result of an action taken or a service provided.