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Your Food- Services Company Has Been Named as the Sole

Question 102

Multiple Choice

Your food- services company has been named as the sole provider of meals at a small university. The cost and demand schedules are:  Sold per Day  Price per Meal  Total  Fixed Cost  Total  Variable Cost  Total Revenue 0$3.50$15000100$3.25$150$300$325200$3.00$150$500$600300$2.75$150$650$825400$2.50$150$750$1000500$2.25$150$830$1125600$2.00$150$905$1200700$1.75$150$995$1225 TABLE 102\begin{array}{l}\begin{array} { | c | c | c | c | c | } \hline \text { Sold per Day } & \text { Price per Meal } & \begin{array} { c } \text { Total } \\\text { Fixed Cost }\end{array} & \begin{array} { c } \text { Total } \\\text { Variable Cost }\end{array} & \text { Total Revenue } \\\hline 0 & \$ 3.50 & \$ 150 & 0 & 0 \\\hline 100 & \$ 3.25 & \$ 150 & \$ 300 & \$ 325 \\\hline 200 & \$ 3.00 & \$ 150 & \$ 500 & \$ 600 \\\hline 300 & \$ 2.75 & \$ 150 & \$ 650 & \$ 825 \\\hline 400 & \$ 2.50 & \$ 150 & \$ 750 & \$ 1000 \\\hline 500 & \$ 2.25 & \$ 150 & \$ 830 & \$ 1125 \\\hline 600 & \$ 2.00 & \$ 150 & \$ 905 & \$ 1200 \\\hline 700 & \$ 1.75 & \$ 150 & \$ 995 & \$ 1225 \\\hline\end{array}\\\text { TABLE } 10 - 2\end{array}
-Refer to Table 10- 2. Assuming the firm is a single- price monopolist, the marginal revenue at 200 meals per day is


A) $1.75.
B) $2.25.
C) $2.75.
D) $3.25.
E) $0.

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