Use the following table, which shows the demand schedule faced by Ninaskets, a pure monopoly selling baskets, to answer the next question.PriceNumber of Baskets Sold$203185167141012151030What is the change in total revenue if the pure monopoly raises the price from $10 to $12?

A. +$120
B. -$300
C. -$120
D. +$300

Answer: C

Economics

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Which of the following is false?

A) International differences in tastes, if sufficiently large, could overturn the comparative advantage predictions of the HO model. B) The classical and HO models make similar assumptions about international differences in technology. C) The HO model predicts that some groups will be hurt by international trade. D) Both the classical and the HO models predict that countries gain from international trade.

Economics

When stock prices fall significantly, people may feel less wealthy and thus decide to consume less of their current flow of disposable income. In our consumption function, this can be represented by a

A) fall in (Y - T). B) rise in T. C) rise in c. D) fall in a.

Economics