A local cable company has a monopoly on cable service.If it sells 20 of its packages its total revenue is $10,000,and if it sells 21 packages its total revenue is $10,600.When the local cable company sells 21 packages,the price per package is closest to

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The increase in total revenue when selling one additional package (from 20 to 21) is $600 ($10,600 - $10,000). Since selling this additional package increases total revenue by $600, and the total revenue at 21 packages is $10,600, the price per package at 21 packages is approximately $10,600 / 21 ≈ $505.

A Local Cable Company Has a Monopoly on Cable Service