I believe Ferdinand Magellan？
Venetian explorer, Marco Polo, told his cellmate during his imprisonment after the Venetian-Genoese War about his travels to the Far East. These accounts became a book , later entitled "The Travels of Marco Polo" which was influential in sparking people's curiosity of the East.
The first impact was that Marco Polo was able to bring elements of Western culture to the East and Eastern culture back to the West. Because of his exploration Indonesia, Mongolia, Sri Lanka, and India, China began to experience Western culture.
Next, Marco Polo's interactions with Mongolian emperor Kublai Khan led to commercial exchange with Western merchants who were now arriving in China. This increased Chinese's growth as a civilization.
The Silk Road, an easier route to travel around the Gobi Desert, traced by the Polos had a huge effect in the future of European and Chinese interaction. It would prove to be a more effective route than to sail the oceans to China.
The correct answer is C.
A monopoly is a market structure where a single firm serves the whole demand of a specific good or service. It does not face competitors, therefore, such firm has absolute market power to decide the price charged for its products.
So, the monopoly is able to charge a higher price than in a perfect competition scenario where the price would be set at the intersection betweeen the demand function and the marginal cost function.
Instead, the quantity sold in the monopoly (<u>q*) is determined by the intersection of the marginal revenue and marginal cost curves, and the monopoly price is computed by substituting q* in the expression of the demand function </u>(because the demand function relates price and quantity).
<u>The result is 15$ as the picture shows. </u>
