The Following Table Shows the Quantities of a Good Sold

question 38

Multiple Choice

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

-Refer to the table above.Which of the following statements is true of the monopolist's total revenue?

• A) As the monopolist reduces the price of its product from $9 to $3, its total revenue decreases.
• B) As the monopolist reduces the price of its product from $9 to $3, its total revenue increases.
• C) As the monopolist reduces the price of its product from $9 to $3, its total revenue increases and then decreases.
• D) As the monopolist reduces the price of its product from $9 to $3, its total revenue decreases and then increases.

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Definitions:

Hotel Programs

Initiatives or loyalty schemes offered by hotels to reward frequent guests and enhance their staying experience.

Behavioral Segmentation

The method of segmenting a market into categories based on consumer awareness, perceptions, applications, or reactions towards a product.

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Televisions equipped with internet connectivity and the capability to run apps, offering streaming media services and other advanced features.