Exhibit 8-1 Monopolist's Demand Curve

question 3

Multiple Choice

Exhibit 8-1 Monopolist's demand curve

-At an output of 200 units,a monopolist with the demand curve shown in Exhibit 8-1 will charge:

• A)$10.
• B)$20.
• C)$30.
• D)$40.

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Definitions:

Personal Liability

The responsibility of an individual to bear the financial costs associated with damages or debt from their actions or business dealings.

Sole Proprietorship

A business owned and operated by one person, who is solely responsible for its liabilities and entitled to its profits.

Legal Entity

An organization or system that has its own legal identity, allowing it to own property, enter into contracts, and be sued or sue.

Sole Proprietorship

A business structure where a single individual owns and operates the business, bearing full responsibility for its debts and obligations.