If a Monopolist Can Sell 7 Units When the Price

question 230

Multiple Choice

If a monopolist can sell 7 units when the price is $4 and 8 units when the price is $3,then marginal revenue of selling the eighth unit is equal to

• A) $3.
• B) $4.
• C) $24.
• D) -$4.

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Definitions:

Instinct

A fixed behavioral response in animals that is instinctual and occurs upon encountering certain stimuli.

Cerebral Cortex

The cerebral cortex is the outer layer of the cerebrum in the brain, playing a key role in memory, attention, perception, cognition, awareness, thought, language, and consciousness.

Amygdala

A section of the brain's limbic system involved in emotion, behavior, and motivation, particularly known for its role in processing fear.

Optic Nerve

The nerve that transmits visual information from the retina to the brain.