Consider the Following Demand and Cost Information -Refer to the Table Above

question 3

Multiple Choice

Consider the following demand and cost information
$\begin{array} { | c | c | c | } \hline \text { Quantity } & \text { Price } & \text { Total Cost } \\\hline 0 & \text { R40 } & \text { R10 } \\\hline 1 & \text { R30 } & \text { R15 } \\\hline 2 & \text { R20 } & \text { R25 } \\\hline 3 & \text { R10 } & \text { R40 } \\\hline 4 & \text { R0 } & \text { R60 } \\\hline\end{array}$

-Refer to the table above. To maximise profit, the monopolist sets the price at

• A) R40
• B) R20
• C) R0
• D) R10

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Definitions:

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The values and norms that are widely held and celebrated within a culture.

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The ethical framework that suggests an entity, be it an organization or individual, has an obligation to act for the benefit of society at large.

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