A Single-Price Monopoly Faces a Linear Demand Curve

question 167

Multiple Choice

A single-price monopoly faces a linear demand curve. If the marginal revenue for the second unit is $20, then the marginal revenue for the

• A)first unit is less than $20.
• B)third unit is less than $20.
• C)third unit is more than $20.
• D)third unit is also $20.
• E)More information is needed to determine if the marginal revenue for the third unit is more than, less than, or equal to $20.

---

Definitions:

Long-Term Memory

The phase or type of memory responsible for the storage of information for an extended period.

Semantic Categories

Semantic categories refer to groups of words that share a similar meaning or are related by a common theme, such as animals, colors, or emotions.

Episodic Memories

Memories of personally experienced events and the contexts in which they occurred.

Declarative Memories

Memories of facts, rules, concepts, and events (“knowing that”); they include semantic and episodic memories.