A Firm Faces a Demand Function D(p), for Which the Revenue-Maximizing

question 80

Multiple Choice

A firm faces a demand function D(p) , for which the revenue-maximizing price is $10.The demand function is altered to 2D(p) .What is the new revenue-maximizing price?

• A)$5
• B)$20
• C)$10
• D)There is insufficient information to determine this.
• E)none of the above.

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Definitions:

Power Resource Theory

Holds that the distribution of power between major classes partly accounts for the successes and failures of different political parties.

Political Parties

Organized groups of people with similar political ideologies and objectives that seek to influence public policy and government by getting their candidates elected to office.

Class

A system of ordering society wherein people are divided into sets based on perceived social or economic status.

Distribution of Power

The way authority and control are spread across individuals or groups within an organization or society.