A Monopolist Increased Output by 100 Units, but Cut Prices

question 63

Multiple Choice

A monopolist increased output by 100 units, but cut prices by$20 to sell this additional output at $1,000 per unit. What isTRUE about marginal revenue?

• A)MR totals $2,000
• B)MR totals $100,000
• C)MR totals -$2,000
• D)MR cannot be calculated with the information given.(True Answer )Correct

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Definitions:

Group Therapy

A form of psychotherapy in which a small, carefully selected group of individuals meets regularly with a therapist to discuss and work through personal problems.

Universality

The quality of being universal; widespread or common attributes, concepts, or behaviors across different human cultures or societies.

Interpersonal Learning

The process of learning through interactions with others, often leading to improvements in communication and understanding in social settings.

Structural Change

Alterations or modifications in the physical or organizational structure of something.