Table 15-2 Assume Table 15-2 Gives the Monthly Demand and Demand

question 86

Multiple Choice

Table 15-2
Assume Table 15-2 gives the monthly demand and costs for subscriptions to basic cable for Comcast,a cable television monopoly in Philadelphia.
-Refer to Table 15-2.If Comcast wants to maximize its profits,what price (P) should it charge and how many cable subscriptions per month (Q) should it sell?

• A)P = $12; Q = 8
• B)P = $14; Q = 6
• C)P = $16; Q = 4
• D)P = $15: Q = 5

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Definitions:

Product Name

The title given to a merchandise or service to distinguish it from other offerings.

Trademark

A distinguishable symbol, pattern, or phrase that differentiates the goods or services of a specific origin from those of other sources.

Oligopolists

Firms or individuals that dominate a particular market, leading to a market structure known as oligopoly, where a few entities control the majority of market share.

Undistributed Profits

Profits earned by a company that are not paid out as dividends to shareholders but are retained within the company for reinvestment.