The following data represents demand facing a monopoly. Answer questions 19-23 using the following data.

Price Quantity

100 0

90 1

80 2

70 3

60 4

50 5

40 6

21. Total revenue is maximized at

a. 3^rd unit of output c. 5^th unit of output

b. 4^th unit of output d. 6^th unit of output

e. 7^th unit of output

22. If the good is made at a fixed marginal cost of $10, the monopoly will sell

a. 3 units of output

b. 4 units of output

c. 5 units of output

d. 6 units of output

e. 7 units of output

23. If the marginal cost of making the good rises to $40 the monopoly will sell

a. 3 units of output b. 4 units of output

c. 5 units of output d. 6 units of output

e. 7 units of output

24. Compared to a perfectly competitive market, a monopoly sells

a. more goods than perfectly competitive market at lower prices

b. more goods than perfectly competitive market at higher prices

c. less goods than perfectly competitive market at lower prices

d. less goods than perfectly competitive market at higher prices