Suppose a Firm Has a Monopoly on the Sale of Widgets

question 346

Multiple Choice

Suppose a firm has a monopoly on the sale of widgets and faces a downward-sloping demand curve. When selling the 100th widget, the firm will always receive

• A) less marginal revenue on the 100th widget than it received on the 99th widget.
• B) more average revenue on the 100th widget than it received on the 99th widget.
• C) more total revenue on the 100 widgets than it received on the first 99 widgets.
• D) a lower average cost per unit at 100 units of output than at 99 units of output.

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Definitions:

Transposable Elements

DNA sequences that can change their position within a genome, sometimes creating or reversing mutations and altering the cell's genetic identity.

Chromosome Region

A specific segment of a chromosome where genes are located.

Exons

Portions of a gene that are transcribed and translated into proteins, interspersed with noncoding sequences called introns.

Amniocentesis

A medical procedure used in prenatal diagnosis, involving the extraction of a small amount of amniotic fluid from the uterus to test for genetic abnormalities and infections.