Suppose the Figure Below Illustrates the Demand Curve Facing a Monopolist

question 36

Multiple Choice

Suppose the figure below illustrates the demand curve facing a monopolist. At a price of $8 per unit, the total revenue for this monopolist is ______ per day, and the marginal revenue earned from the last unit sold is ______.

• A)$8; $8
• B)$3,200; $8
• C)$3,200; $4
• D)$3,200; $0

---

Definitions:

Precautionary Approach

A principle advising that action should be taken to prevent harm when it is uncertain, prioritizing prevention over reaction.

Environmental Challenges

Environmental challenges refer to the diverse issues impacting the natural environment, such as climate change, pollution, deforestation, and loss of biodiversity, which pose threats to ecosystems and human well-being.

UN Global Compact

A United Nations initiative to encourage businesses and firms worldwide to adopt sustainable and socially responsible policies, and to report on their implementation.

Sustainable Practices

Efforts and policies designed to minimize negative environmental impacts while conserving energy and natural resources for future generations.