A Monopolist Sells 6 Units of a Product Per Day

question 238

Multiple Choice

A monopolist sells 6 units of a product per day at a unit price of $15. If it lowers the price to $14, its total revenue increases by $22. This implies that its sales quantity increases by

• A)4 units per day.
• B)3 units per day.
• C)2 units per day.
• D)1 unit per day.

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Definitions:

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