The Demand for a Monopolist's Output Is 6,000/(p + 7)²

question 68

Multiple Choice

The demand for a monopolist's output is 6,000/(p + 7) ², where p is its price.It has constant marginal costs equal to $5 per unit.What price will it charge to maximize its profits?

• A)$33
• B)$12
• C)$26
• D)$17
• E)$5

---

Definitions:

Implicit Memory

A type of memory that enables us to perform tasks without conscious awareness of the previous experiences that contribute to the knowledge.

Priming Effects

The influence that a prior stimulus has on the response to a later stimulus, often facilitating or altering the response.

Implicit Memory

Memory that enables task performance improvement by utilizing prior experiences, all without the conscious recall of these experiences.

Word Completion

A psychological task where participants are asked to complete words from partially presented stimuli, often used to assess memory or cognitive processing.