Table 15-3 Assume Table 15-3 Gives the Monthly Demand and Costs for Monthly

question 63

Multiple Choice

Table 15-3

Assume Table 15-3 gives the monthly demand and costs for subscriptions to basic cable for Comcast, a cable television monopoly in Philadelphia.
-Refer to Table 15-3.If Comcast wants to maximize its profits, what price (P) should it charge and how many cable subscriptions per month (Q) should it sell?

• A)P = $12; Q = 8
• B)P = $14; Q = 6
• C)P = $16; Q = 4
• D)P = $15; Q = 5

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Definitions:

Minimum Age

The lowest legal age at which an individual is allowed to partake in certain activities or assume particular responsibilities.

Grandfather Clause

A provision in which an old rule continues to apply to some existing situations while a new rule will apply to all future cases, often used within laws to exempt certain individuals or practices from new regulations.

Southern States

A geographical region in the United States, characterized by a distinct cultural, historical, and political identity, often referring to those states that were formerly part of the Confederacy.

African Americans

A demographic group in the United States consisting of individuals with ancestry from the black races of Africa.