A Monopolist Changes Price from $1 to $2 and Sells

question 20

Multiple Choice

A monopolist changes price from $1 to $2 and sells 10 fewer units.The marginal revenue is

• A) $10.
• B) -$10.
• C) $0.
• D) impossible to determine with the information provided.

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Definitions:

Consumers

Individuals or households that purchase goods and services for personal use.

Consumer Goods Sales

Consumer goods sales involve the transaction and purchase of products that are intended for personal use by consumers, ranging from food and clothing to electronics and appliances.

Power Users

Experienced and highly skilled users who exploit advanced features of software or systems to achieve results efficiently.

Online Opinion Leaders

Individuals who have significant influence on social media or online platforms, often guiding trends and affecting the opinions or behaviors of their followers.