The Following Table Shows the Quantities of a Good Sold

question 249

Multiple Choice

The following table shows the quantities of a good sold by a monopolist at different prices.

-Refer to the table above.What is the total revenue of the monopolist when it charges a price of $3?

• A) $1,050
• B) $1,350
• C) $1,750
• D) $2,750

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Definitions:

Medicare

A government-funded health insurance scheme in the US designed for individuals aged 65 and above, select younger individuals with disabilities, and those suffering from End-Stage Renal Disease.

Full-time Employees

Workers who are considered to be employed on a full-time basis, typically working a minimum number of hours defined by their employer or by laws.

Preferred Provider Organization (PPO)

An organization of physicians who network together to offer discounts to purchasers of health care insurance.

Indemnity-type Insurance

Insurance that compensates for losses or damages rather than providing services.