Use the Following to Answer Questions

question 313

Multiple Choice

Use the following to answer questions:
-(Table: Prices and Demand) Look at the table Prices and Demand. The New Orleans Saints have a monopoly on Saints logo hats. The marginal cost of producing a hat is $18. If the Saints were a perfectly competitive firm in a perfectly competitive industry, at their profit-maximizing price and output, consumer surplus would be:

• A) $24.
• B) $30.
• C) $18.
• D) $36.

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Definitions:

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Formal addresses or discourses delivered to an audience to inform, persuade, or entertain.

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The practice of promoting the brand name of a corporate entity, as opposed to specific products or services.

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Digital platforms where users create, share, or exchange information and ideas in virtual communities and networks.

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Individuals or organizations that control access to information, determining what news or content is published or broadcasted.