The above table gives the demand schedule for a single-price monopoly. If the marginal cost is $3, the profit maximizing output for the monopoly will be between
A) 1 to 2 units.
B) 2 to 3 units.
C) 3 to 4 units.
D) 4 to 5 units.
E) Exactly 5 units.
B
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Optimal decisions are made
A) if information about prices and marginal utilities is known. B) in the marketplace. C) at the margin. D) when marginal utility is minimized.
To answer the question, refer to the following table showing a demand schedule: 
If price falls from $200 to $150,
A. an arrow representing the price effect points down and is longer than an arrow for the quantity effect. B. an arrow representing the quantity effect points up and is shorter than an arrow for the price effect. C. arrows representing the price and quantity effects both point down. D. total revenue moves in the same direction as the arrow representing the quantity effect. E. arrows representing the price and quantity effects both point up.