A Monopolist Can Sell 20 Units a Week at a Price

question 50

Multiple Choice

A monopolist can sell 20 units a week at a price of $10 per unit.To sell 21 units a week, it would have to lower its price to $9 per unit.The marginal revenue of the 21^st unit would be:

• A)$9.
• B)-$11
• C)-$12
• D)-$20
• E)-$21

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Definitions:

Warranty Cases

Legal disputes that arise when there is a breach of express or implied warranties, guaranteeing the condition or quality of a product or service.

Product Defect

A flaw or deficiency in a product that makes it unsafe or unsuitable for its intended use.

Implied Warranty

A legal term for a guarantee that the goods or services sold meet certain quality standards, even though not explicitly stated.

Common Carrier

An entity that provides transportation services to the general public under license or authority provided by a regulatory body.