Refer to Scenario 10.2. How much profit does the monopolist earn?

A price searcher faces the following demand function: At $7, 6, 5, 4, and $3, the quantity demanded is 300, 400, 500, 600, and 700 units respectively. Which statement below is true?

A) Total revenue is $11,500. B) Marginal revenue is $300 when the price is $5. C) Marginal revenue is $100 when the price is $5. D) Marginal revenue is $2100 when the price is $3.

Which of the following will not lead to economic growth?

A) increased immigration B) restrictions on international trade C) introduction of faster computers D) opening all federal lands to mining