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MMLU-Pro / 7541 / Mr. A owns 1,000 shares of General Electric common stock. If he tries to sell…

Problem

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question

Mr. A owns 1,000 shares of General Electric common stock. If he tries to sell some, he finds he can get a price of 61.50pershareforall1,000shares.Ifheoffersonly500shares,hecangetapriceof61.50 per share for all 1,000 shares. If he offers only 500 shares, he can get a price of 61,625 which is 0,125morepershare.Thatis,reducinghisamountsoldbyahalf,hecangetapricethatishigherbyabout1/500.Ifhesoughtapriceof0,125 more per share. That is, reducing his amount sold by a half, he can get a price that is higher by about 1/500. If he sought a price of 61.75, he would sell nothing. Mr. A considers this an insignificant rise in price as a result of withholding his supply. Is this an example of a price-takers' market? Compute Mr. A's marginal revenues as best you can with the given data.
Plain-text mathematical notation (without MathML)
Mr. A owns 1,000 shares of General Electric common stock. If he tries to sell some, he finds he can get a price of 61.50pershareforall1,000shares.Ifheoffersonly500shares,hecangetapriceof61,625 which is 0,125morepershare.Thatis,reducinghisamountsoldbyahalf,hecangetapricethatishigherbyabout1/500.Ifhesoughtapriceof61.75, he would sell nothing. Mr. A considers this an insignificant rise in price as a result of withholding his supply. Is this an example of a price-takers' market? Compute Mr. A's marginal revenues as best you can with the given data.
Original LaTeX notation
Mr. A owns 1,000 shares of General Electric common stock. If he tries to sell some, he finds he can get a price of $61.50 per share for all 1,000 shares. If he offers only 500 shares, he can get a price of $61,625 which is $0,125 more per share. That is, reducing his amount sold by a half, he can get a price that is higher by about 1/500. If he sought a price of $61.75, he would sell nothing. Mr. A considers this an insignificant rise in price as a result of withholding his supply. Is this an example of a price-takers' market? Compute Mr. A's marginal revenues as best you can with the given data.

category

economics

options

  1. Yes, this is an example of a price-takers' market, Marginal revenue is $61.50 per share
  2. Yes, this is an example of a price-takers' market, Marginal revenue is $61,375 per share
  3. Yes, this is an example of a price-takers' market, Marginal revenue is $30,750 per share
  4. Yes, this is an example of a price-takers' market, Marginal revenue is $61.625 per share
  5. No, this is not an example of a price-takers' market, Marginal revenue is $61,375 per share
  6. Yes, this is an example of a price-takers' market, Marginal revenue is $61,625 per share
  7. No, this is not an example of a price-takers' market, Marginal revenue is $61,625 per share
  8. No, this is not an example of a price-takers' market, Marginal revenue is $30,750 per share
  9. No, this is not an example of a price-takers' market, Marginal revenue is $61.625 per share
  10. No, this is not an example of a price-takers' market, Marginal revenue is $61.50 per share

src

stemez-Economics

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Source and history

upstream_id / Original problem ID
7541
task_id
6993955d-feeb-5ff0-aed1-b3d3d973ff3a
task_key
default--test--7541
task_revision_id
1
config / split
default / test

Official source

initial import