Use the Following to Answer Question

question 31

Multiple Choice

Use the following to answer question:
Figure: Demand and Marginal Revenue
-(Figure: Demand and Marginal Revenue) Use Figure: Demand and Marginal Revenue.The figure refers to a software upgrade.The producer incurred fixed costs of $10 million to produce the upgrade;the marginal cost of allowing consumers to download the upgrade is zero.What is the efficient price of the upgrade?

• A)$0
• B)$50
• C)$75
• D)$100

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Definitions:

Consumer Goods

Products and commodities purchased by individuals for personal and household use.

Automobile Production

The manufacturing process of cars, involving assembly lines and complex supply chains, significant for its economic impact.

Farm Mechanization

The process of using agricultural machinery and equipment to increase the efficiency of farming operations and productivity.

Disk Plow

An agricultural tool featuring a disk-shaped blade used for plowing to turn over the soil, particularly useful in tough or sticky soil conditions unlike traditional plows.