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A monopolist sells 6 units of a product per day at a unit price of $15. If it lowers price to $14, its total revenue
A monopolist sells 6 units of a product per day at a unit price of $15. If it lowers price to $14, its total revenue increases by $22. This implies that its sales quantity increases by:
- 4 units per day
- 3 units per day
- 2 units per day
- 1 unit per day
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