Use the Following to Answer Questions -(Table: Prices and Demand)The Toronto Maple Leafs Have a Monopoly
Use the following to answer questions :
-(Table: Prices and Demand) The Toronto Maple Leafs have a monopoly on Leafs logo hats.The marginal cost of producing a hat is $18.If the Leafs increase the number of hats they sell from 4 to 5,the quantity effect is a(n) _____ in total revenue of _____.
A) decrease;$20
B) increase;$20
C) decrease;$8
D) increase;$8
Correct Answer:
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