If a seller can sell 5 units at 8 each and can sell a 6th unit separately for 7 (the people willing to pay 8 don't learn about the reduced price), the marginal revenue from selling the 6th unit is
A) 47.
B) 7.50.
C) 7.
D) 2.
E) none of the above.
Question 2
Without any restrictions in a perfectly competitive market, if there is a sudden rightward shift in the demand for a good:
A) sellers of the good will increase the supply of the good at the same price.
B) sellers of the good will increase the quantity of the good supplied in the market.
C) sellers of the good will decrease the supply of the good at the same price.
D) sellers of the good will decrease the quantity supplied.
Schematic Diagram of Steam-to-air experiment (CHE415 Unit Operations)
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