What Price Should a Firm Charge for a Package of Two

question 39

Multiple Choice

What price should a firm charge for a package of two shirts given a marginal cost of $2 and an inverse demand function P = 6 − 2Q by the representative consumer?

• A) $2
• B) $6
• C) $8
• D) $10

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Definitions:

Type A

Type A refers to a personality pattern characterized by high levels of competitiveness, self-driven urgency, and a constant sense of time pressure.

Competitive

A trait or situation characterized by rivalry where individuals or groups strive to outperform each other to achieve a goal.

Hostility

Feelings of anger and antagonism towards someone or something, often displayed through aggressive behavior or attitudes.

Defence Mechanism

Mental tactics employed by people to deal with the real world and preserve their sense of self.