The price of good X is $5 and the price of good Y is $15. If the marginal utility of good X is 20 then the marginal utility of good Y must be ________ to have an optimum combination of goods purchased

Refer to the figure above. What is the change in total revenue due to a price reduction from $6 to $4?

A) The total revenue increases by $300. B) The total revenue decreases by $600. C) The total revenue increases by $200. D) The total revenue increases by $600.

It is true in monopoly pricing that the

a. sky is not the limit. b. market cannot impose a price on a monopolist. c. monopolist is a price maker. d. All of the above are correct.