A Monopoly Sells 10 Units of Output at $10

question 187

Multiple Choice

A monopoly sells 10 units of output at $10. If the MR of the 11th unit is $4.50, then the price of the 11th unit is

• A) also $10.
• B) $9.50.
• C) greater than $10.
• D) $7.25.

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Definitions:

Id

In psychoanalytic theory, the part of the psyche that is the source of instinctual impulses and demands for immediate satisfaction of primitive needs.

Thanatos

In psychoanalytic theory, the death drive representing an unconscious wish for death or self-destruction.

Conscious Mind

The aspect of the mind that is aware of one's self, thoughts, feelings, and surroundings.

Short-term Memory

Short-term memory is part of the memory system that holds a limited amount of information in mind for a short period of time, typically seconds to a few minutes.