Table 15-9 Consider the following demand and cost information for a monopoly. Quantity Total Cost $6 $20 $34 $48 $62 $76 10 11 2 3 14 QUESTION 30 15 Price $32 $28 $24 $20 $16 $12 Refer to Table 15-9. What is the marginal revenue of the 3rd unit? O a. $20 O b. $28 O c. $4 O d. $12

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Table 15-9
Consider the following demand and cost information for a monopoly.
Quantity
Total Cost
$6
$20
$34
$48
$62
$76
10
1
2
3
14
QUESTION 30
15
Refer to Table 15-9. What is the marginal revenue of the 3rd unit?
O a. $20
b. $28
O c. $4
O d. $12
Price
$32
$28
$24
$20
$16
$12
QUESTION 31
The fundamental source of monopoly power is
O a. rising average total costs.
O b. low fixed costs.
O c. barriers to entry.
O d. many buyers and sellers.
Transcribed Image Text:Table 15-9 Consider the following demand and cost information for a monopoly. Quantity Total Cost $6 $20 $34 $48 $62 $76 10 1 2 3 14 QUESTION 30 15 Refer to Table 15-9. What is the marginal revenue of the 3rd unit? O a. $20 b. $28 O c. $4 O d. $12 Price $32 $28 $24 $20 $16 $12 QUESTION 31 The fundamental source of monopoly power is O a. rising average total costs. O b. low fixed costs. O c. barriers to entry. O d. many buyers and sellers.
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