-The Above Figure Shows the Market Demand Curve for Long-Distance

question 218

Multiple Choice

-The above figure shows the market demand curve for long-distance land-based telephone calls.Suppose the marginal cost of a long-distance telephone call is 2¢ a minute for a call no matter how many minutes of calls are made and there are 3 firms in the industry.If the firms in the industry operate as a monopoly,there are ________ minutes of calls made per hour.

• A) between 0 and 3 million
• B) more than 3 million and less than or equal to 5 million
• C) more than 5 million and less than or equal to 7 million
• D) more than 7 million and less than or equal to 9 million
• E) more than 9 million

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Definitions:

BPI (Business Process Improvement)

A systematic approach to help an organization optimize its underlying processes to achieve more efficient results.

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The philosophy of making continuous improvements in operations to enhance quality, efficiency, and customer satisfaction.

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A business strategy that combines the efficiency of mass production with the personalization aspects of custom-made goods or services.

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A manufacturing process in which products are created after a confirmed order is received, allowing for customization.