The table above shows the demand and total cost schedule for a monopolist hotel. What is the marginal revenue from renting out the fifth room each night?

If tea and coffee are substitutes, the cross elasticity of coffee with respect to the price of tea will be ________ and an increase in the price of tea will ________ the demand for coffee

A) positive; increase B) negative; decrease C) negative; increase D) positive; decrease

Explain why the optimal amount of pollution is often not zero

What will be an ideal response?