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

question 14

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 price is being charged for 4 units?

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

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Definitions:

Chinese Firms

Businesses that are registered and operate out of China, under Chinese jurisdiction.

Negligent Misrepresentation

Providing false or misleading information carelessly, causing someone to suffer loss or damage.

Innocent Misrepresentation

A type of misrepresentation in legal contexts where the person making the misrepresentation genuinely believes it to be true, lacking intent to deceive.

Unilateral Mistake

A legal term describing a situation where only one party to a contract is mistaken about a basic assumption on which the contract is based.