A Monopolist Faces the Inverse Demand Curve P = 120

question 9

Multiple Choice

A monopolist faces the inverse demand curve p = 120 - 6q. At what level of output is his total revenue maximized?

• A) 20
• B) 5
• C) 20.
• D) 15
• E) 10

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Definitions:

Negative Reinforcement

A reinforcement contingency through which behaviors are followed by the removal of previously experienced negative consequences, resulting in the likelihood that the behavior will occur again in the same or similar situations.

Positive Reinforcement

A reinforcement contingency through which behaviors followed by positive consequences, are more likely to occur again in the same or similar situations.

Negative Punishment

A behavioral psychology concept where reducing or taking away a desirable stimulus decreases the likelihood of a behavior recurring.

Positive Reinforcement

A motivational technique involving the addition of a reward following a desired behavior, aiming to increase the likelihood of the behavior being repeated.