The Table Given Below Shows the Price, Marginal Revenue and Marginal

question 39

Multiple Choice

The table given below shows the price, marginal revenue and marginal cost of a monopolist at different levels of the output. The firm does not incur a fixed cost of production.Table 11.4

-Why is there a supply point and not a supply curve for a monopolist?

• A)A monopolist cannot affect the market price by changing its supply.
• B)A monopolist produces a homogeneous product having similar substitutes.
• C)A monopolist equates the price which it charges with its marginal cost.
• D)There is only one quantity and price at which a monopolist operates.
• E)A monopolist supplies to a large number of consumers.

---

Definitions:

Expectancy

The belief or anticipation that something will happen in the future, often influencing behavior towards achieving it.

Instrumentality

In motivation theory, the perceived relationship between performance and the attainment of certain outcomes, meaning one's belief that performing at a certain level will lead to desired rewards.

Valence

The intrinsic attractiveness or aversiveness of an event, object, or situation.

Alderfer's ERG Theory

A motivational theory proposed by Clayton Alderfer that categorizes human needs into three groups: Existence, Relatedness, and Growth, suggesting that more than one need may motivate at the same time.