A Monopolistic Firm Has a Sales Schedule Such That It

question 159

Multiple Choice

A monopolistic firm has a sales schedule such that it can sell 10 prefabricated garages per week at $10,000 each, but if it restricts its output to 9 per week it can sell these at $11,000 each. The marginal revenue of the 10th unit of sales per week is

• A) âˆ'$1,000.
• B) $9,000.
• C) $10,000.
• D) $1,000.

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Definitions:

North American Free Trade Agreement

A trilateral trade block agreement signed by Canada, Mexico, and the United States, aimed at reducing trading costs, increasing business investment, and helping North America be more competitive in the global marketplace.

Global Trade

International commerce that allows for the exchange of goods and services between countries, influenced by agreements, tariffs, and global economic conditions.

Canada and Mexico

Two countries in North America, each having distinct cultures, economies, and political systems, but are partners with the United States in trade agreements such as the USMCA.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment.