Use the following to answer questions:
-(Table: Prices and Demand) The New Orleans Saints have a monopoly on Saints logo hats. The marginal cost of producing a hat is $18. If the Saints increase the number of hats they sell from four to five, their total revenue changes from _____ to _____.
A) $88; $100
B) $22; $20
C) $88; $80
D) $110; $100

Question

Use the following to answer questions: 
-(Table: Prices and Demand) The New Orleans Saints have a monopoly on Saints logo hats. The marginal cost of producing a hat is $18. If the Saints increase the number of hats they sell from four to five, their total revenue changes from _____ to _____.
A) $88; $100 
B) $22; $20 
C) $88; $80 
D) $110; $100

Quizplus · Accepted Answer

The total revenue when selling four hats is $88, and when selling five hats, it increases to $100.

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