Hi Phi Sound Unlimited Has a Monopoly Over the Installation

question 340

Multiple Choice

Hi Phi Sound Unlimited has a monopoly over the installation of surround sound systems. Hi Phi Unlimited's total revenue from installing 15 sound systems is $30,000 and its total revenue from installing 18 sound systems is $33,000. The marginal revenue received from selling the 18th sound system is

• A) equal to the price of the 16th sound system.
• B) greater than the price of the 16th sound system.
• C) less than the price of the 16th sound system.
• D) Indeterminate from the given information.

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Definitions:

Interaction

A pattern of results in which the effect of one independent variable on the dependent variable depends on the level of a second independent variable.

Stereotype

A widely held but fixed and oversimplified image or idea of a particular type of person or thing.

Embezzlement Charges

Legal accusations against a person who has unlawfully taken money or property they were trusted to manage or hold.

Neuroticism

A personality trait characterized by the tendency to experience negative emotions such as anxiety, anger, or depression more frequently and intensely than average.