Anna's Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. What is the expected revenue from setting the price at $100?

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

Refer to Figure 13-13. What is the output price?

A) P4 B) P3 C) P2 D) P1