Scenario: Mr

question 224

Multiple Choice

Scenario: Mr. Olivander has a monopoly on supplying magic wands. The table below shows the demand schedule for magic wands per day.

-Refer to the scenario above.What is Mr.Olivander's marginal revenue when he sells three wands?

• A) $55
• B) $130
• C) $30
• D) $35

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Definitions:

Vertical Integration

A strategy where a company expands its business operations into different steps on the same production path, such as when a manufacturer owns its supplier and/or distributor.

Corporate Ownership

Refers to the ownership of a company by individuals or entities, often represented by the possession of company shares, which grants certain rights and responsibilities regarding the company's management and earnings.

Advertising

The activity or profession of creating and distributing content, often paid, to promote products, services, or brands to a targeted audience.

Revolving Door

A term describing the movement of personnel between roles as legislators and regulators and the industries affected by the legislation and regulation, often highlighting potential conflicts of interest.