Scenario: Tobac Co

question 22

Multiple Choice

Scenario: Tobac Co. is a monopolist in the cigarette market in Nicotiana Republic, where the U.S. dollar is used as the official currency. The firm faces the demand curve shown below. The firm has a constant marginal cost of $2.00 per pack. The fixed cost of the firm is $50 million. To answer the questions below, it is useful to know that the equation of the (inverse) demand curve is P = 8 - 0.04Q, where Q is the quantity demanded (in millions of packs) and P is the price per pack (in $) . Also, you should draw in the marginal revenue curve.

-Refer to the scenario above.If the quantity sold is 100 million packs,then the firm's total revenue is ________ and the total cost is ________.

• A) $400 million; $250 million
• B) $300 million; $150 million
• C) $250 million; $100 million
• D) $200 million; $50 million

Understand the content and effectiveness of hand sanitizers in preventing the transmission of pathogens.

Comprehend the distance droplets from coughs or sneezes can travel and the implications for disease transmission.

Recognize employer responsibilities under OSHA to maintain a safe workplace.

Identify the components included in OSHA standards and recognize elements not covered.

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Definitions:

McGrath

Refers potentially to Joseph Edward McGrath, a psychologist known for his research on small groups and team dynamics.

Executive Action/Internal

Executive action refers to decisions or measures taken by an organization's leadership, often involving strategic, policy, or managerial changes within an internal framework.

Interdependent

Describes a relationship or condition where entities or individuals rely on each other, highlighting mutual dependency.

Facilitators

Individuals or factors that make a process easier or aid in achieving a goal more efficiently.