If a Physician Orders That a Patient Be Given 45

question 5

Multiple Choice

If a physician orders that a patient be given 45 grams of a medication and it is only available in 15-gram tablets, how many tablets should the patient be given?

• A) 2.5
• B) 3
• C) 3.5
• D) 4

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Definitions:

Single-Price Monopolist

A monopolist that charges all consumers the same price for its product or service.

Price Discrimination

The approach of pricing the identical product variably for different consumer segments, according to their readiness to spend.

Monopoly Profits

Extraordinary profits earned by a monopoly due to its unique position of having no competition in providing its goods or services, allowing it to set higher prices.

Single-Price Monopolist

Refers to a monopolist who charges all consumers the same price for its product, rather than price discriminating among different consumer groups.