If the Demand Curve Facing a Monopoly Was 1 Unit

question 2

Multiple Choice

If the demand curve facing a monopoly was 1 unit at $7, 2 units at $6, 3 units at $5, 4 units at $4, and 5 units at $3, the marginal revenue from selling the third unit of output:

• A)is $5.
• B)is $4.
• C)is $3
• D)is $1
• E)cannot be determined from the above information.

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Definitions:

Appeal to Force

A logical fallacy where a conclusion is supported by a threat or use of force, rather than by evidence or reasoning.

Business Meeting

A gathering of people within an organization to discuss and make decisions on matters of mutual interest or concern.

Argument

An explanation or series of explanations provided to justify a concept, action, or hypothesis.

Appeal to Majority

An argumentative fallacy that assumes a proposition is true because most people believe it to be true.