Use the Following Information to Answer the Questions

question 85

Multiple Choice

Use the following information to answer the questions:
The accompanying figure depicts the demand (D) curve for general admission concert tickets to see ECON-Jammin', the world's first economics rock band, which is scheduled to visit your city next month. The concert venue can accommodate 100 fans with a marginal cost (MC) of $10 per person.
-If ECON-Jammin' charges a single price to see its band in concert and follows the profit-maximizing rule for the perfectly competitive firm, how much net revenue will be generated?

• A) $1,600
• B) $600
• C) $400
• D) $350
• E) $200

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Definitions:

Axis

A central line around which other things rotate or are symmetrically arranged; in anatomy, it refers to the second cervical vertebra.

Extension

An increase in the angle between bones at a joint or the straightening of a limb.

Straightening Movement

refers to the motion aimed at making something linear or rectifying its alignment.

Adduction

To draw together toward the midline.