Suppose a Single-Price Monopoly Sells 3 Units of a Good

question 100

Multiple Choice

Suppose a single-price monopoly sells 3 units of a good at $20 per unit.If the monopoly sells 4 units,the total revenue increases to $72.What is the marginal revenue of the fourth unit?

• A) $52
• B) $18
• C) $60
• D) $12
• E) $20

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Definitions:

Market Economy

An economic system where decisions on production, investment, and distribution are based on supply and demand, with little government intervention.

Oscilloscope

A voltmeter that displays a waveform of voltage in proportion to its amplitude with respect to time.

Wheatstone Bridge

A circuit used to accurately measure resistance.

Impedance Voltage Tester

A tool used to measure the voltage drop across a component or circuit to calculate its impedance.