Suppose a Single-Price Monopoly Sells 3 Units of a Good

question 14

Multiple Choice

Suppose a single-price monopoly sells 3 units of a good at $20 per unit.If the monopoly sells 4 units,the total revenue increases to $72.What price is being charged for 4 units?

• A) $52 each
• B) $18 each
• C) $60 each
• D) $12 each
• E) $20 each

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Definitions:

CEO

Chief Executive Officer - The highest-ranking executive in a company, responsible for making major corporate decisions and managing the overall operations and resources of the company.

Honor

In banking and finance, refers to the act of accepting or paying a negotiable instrument when it is presented.

Postdated Check

A check written with a date in the future, preventing it from being cashed or deposited until that date.

Authorized

Having been officially approved or given permission by a relevant authority.