Suppose a Monopolist Was Charging a Price of $120 for Its

question 99

Multiple Choice

Suppose a monopolist was charging a price of $120 for its product and was selling 80 units.If it lowers its price to $119 and,as a result,sells 81 units what is the marginal revenue for the product?

• A)0.
• B)$1.
• C)$39.
• D)$9,639.

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Definitions:

Retina

A layer of tissue at the back of the eye that senses light and sends visual signals to the brain.

Rhodopsin

Light-sensitive substance found in the rods of the retina; composed of opsin loosely bound to retinal.

Retinal

A form of vitamin A that plays a crucial role in the conversion of light into a signal that can be interpreted by the brain, leading to vision.

Opsin

Protein portion of the rhodopsin molecule; a class of proteins that bind to retinal to form the visual pigments of the rods and cones of the eye.