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Hi Phi Sound Unlimited Has a Monopoly Over the Installation

Question 193

Multiple Choice

Hi Phi Sound Unlimited has a monopoly over the installation of surround sound systems. Hi Phi Unlimitedʹs total revenue from installing 20 sound systems is $30,000 and its total revenue from installing 21 sound systems is $33,800. The price of the 21st sound system is ________ the marginal revenue of that system.


A) equal to
B) greater than
C) less than
D) indeterminate from the given information

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