Homework Answers
Correct option: $14
Reason: A profit maximizing non-discriminating monopolist sets output at the point MR = MC
This takes place at Q = 7 units
Price corresponding to Q = 7 is $8.66
ATC corresponding to Q = 7 is $6.66
Profit = (P-ATC)Q
Profit = (8.66-6.66)7
Profit = $14
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Question 43 2 pts The figure below shows the cost and revenue curves for a monopolist....
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55
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