Suppose the Demand Curve for Mineral Water Is Given by P

question 1

Multiple Choice

Suppose the demand curve for mineral water is given by p = 20 - 12q, where p is the price per bottle paid by consumers and q is the number of bottles purchased by consumers.Mineral water is supplied to consumers by a monopolistic distributor, who buys from a monopolist producer who is able to produce mineral water at zero cost.The producer charges the distributor a price of c per bottle, that will maximize the producer's total revenue.Given his marginal cost of c, the distributor chooses an output to maximize profits.The price paid by consumers under this arrangement is

• A)$15.
• B)$.83.
• C)$1.67.
• D)$10.
• E)$5.

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Definitions:

Intercostal Veins

Veins located between the ribs, which drain the chest wall and muscles of the intercostal spaces.

Azygous Vein

A vein running up the right side of the thoracic vertebral column, draining blood from the chest wall and upper lumbar region into the superior vena cava.

Intercostal Muscles

Muscles located between the ribs that assist with the breathing process by expanding and contracting the ribcage.

External Iliac Vein

A large vein in the pelvic region that carries deoxygenated blood from the lower limbs back to the heart.