Use the Following to Answer Questions

question 42

Multiple Choice

Use the following to answer questions:
Scenario: A Small-Town Monopolist
A monopolist sells cable subscriptions in a small town and finds that it can sell 100 subscriptions when the price is $15 a week and an additional 75 subscriptions when the price is $10 a week. The MC for the provision of the cable is $5 a week. There are no fixed costs.
-(Scenario: A Small-Town Monopolist) Look at the scenario A Small-Town Monopolist. If the company is allowed to offer different prices for its good, what is the maximum amount of profit this company can earn?

• A) $1,000
• B) $750
• C) $1,375
• D) $1,520

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Definitions:

Correlation

A statistical measure that describes the extent to which two variables change together, though it does not necessarily imply causation.

Self-Esteem

An individual's overall subjective emotional evaluation of their own worth; it is the decision made by an individual as an attitude towards the self.

Academic Success

The achievement of learning objectives and the attainment of desired academic outcomes, such as high grades, completion of degrees, or mastery of specific skills.

Positive Correlation

A relationship between two variables in which both either increase or decrease together.