Refer to the Information Provided in Table 13 -Refer to Table 13

question 64

Multiple Choice

Refer to the information provided in Table 13.2 below to answer the question(s) that follow.
Table 13.2
$$\begin{array} { | c | c | } \hline \text { Price (\$) } & \text { Quantity } \\\hline 10.00 & 1 \\\hline 9.00 & 2 \\\hline 8.00 & 3 \\\hline 7.00 & 4 \\\hline 6.00 & 5 \\\hline 5.00 & 6 \\\hline 4.00 & 7 \\\hline\end{array}$$
-Refer to Table 13.2. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $2 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.

• A) $6; 5
• B) $7; 4
• C) $5; 6
• D) $8; 3

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Definitions:

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society.

Modest Expectations

Reasonable and not overly ambitious hopes or goals.

Standards of Performance

Benchmarks or criteria used to evaluate the effectiveness or quality of work.

Organizational Enculturation

The process by which new members of an organization learn and adapt to its culture and norms.