Use the Following to Answer Questions

question 44

Multiple Choice

Use the following to answer questions:
-(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 increase the number of hats they sell from four to five, marginal revenue is:

• A) $20.
• B) $22.
• C) $8.
• D) $12.

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Definitions:

Decision Making

The process of selecting a course of action from several alternatives to achieve a desired outcome.

Evidence-Based Management

An approach to making managerial decisions and organizational practices grounded in the best available scientific evidence.

Good Evidence

Reliable and relevant information or facts that support a conclusion, decision, or belief.

Big Data

Pertains to incredibly vast collections of data which can be examined through computational methods to uncover patterns, trends, and connections, particularly those concerning human behavior and interactions.