A Monopolist Can Sell 20 Units a Week at a Price

question 6

Multiple Choice

A monopolist can sell 20 units a week at a price of $10 per unit. To sell 21 units a week, it would have to lower its price to $9 per unit. The marginal revenue of the 21^st unit would be:

• A)$9.
• B)−$11.
• C)−$12.
• D)−$20.
• E)$11.

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Definitions:

Longitudinal Method

A research design that involves repeated observations of the same variables over short or long periods of time.

Developmental Psychology

Area of psychology in which the psychologists study the changes in the way people think, relate to others, and feel as they age.

Life Span

The maximum length of time an organism is expected to live, or the length of time an individual actually lives.

Developmental Psychology

The scientific study of how and why human beings change over the course of their life, from infancy through childhood, adolescence, adulthood, and aging.