Use the following to answer questions: Table: Profit-Maximizing Monopolist $$\begin{array} { c c c c c c c }
\hline \begin{array} { c }
\text { Quantity } \
\text { Price (\$) }
\end{array} & \begin{array} { c }
\text { Total } \
\text { (Units) }
\end{array} & \begin{array} { c }
\text { Average } \
\text { Cost (\$) }
\end{array} & \begin{array} { c }
\text { Average } \
\text { Cost (\$) }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Revenue (\$) }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Cost (\$) }
\end{array} & \text { Revenue (\$) } \
\hline 11 & 6 & 17 & & & \
10 & 7 & 19 & & & \
9 & 8 & 21 & & & \
8 & 9 & 23 & & & \
7 & 10 & 25 & & & \
\hline
\end{array}$$
-(Table: Profit-Maximizing Monopolist) Refer to the table. For the quantity of 6 units, this monopolist's average cost and average revenue levels are:
A) $2.71 and $10, respectively.
B) $2.83 and $11, respectively.
C) $2.71 and $2, respectively.
D) $2.83 and $2, respectively.

Question

Use the following to answer questions: Table: Profit-Maximizing Monopolist $$\begin{array} { c c c c c c c } 
\hline \begin{array} { c } 
\text { Quantity } \
\text { Price (\$) }
\end{array} & \begin{array} { c } 
\text { Total } \
\text { (Units) }
\end{array} & \begin{array} { c } 
\text { Average } \
\text { Cost (\$) }
\end{array} & \begin{array} { c } 
\text { Average } \
\text { Cost (\$) }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenue (\$) }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Cost (\$) }
\end{array} & \text { Revenue (\$) } \
\hline 11 & 6 & 17 & & & \
10 & 7 & 19 & & & \
9 & 8 & 21 & & & \
8 & 9 & 23 & & & \
7 & 10 & 25 & & & \
\hline
\end{array}$$
-(Table: Profit-Maximizing Monopolist) Refer to the table. For the quantity of 6 units, this monopolist's average cost and average revenue levels are:
A) $2.71 and $10, respectively.
B) $2.83 and $11, respectively.
C) $2.71 and $2, respectively.
D) $2.83 and $2, respectively.

Quizplus · Accepted Answer

The Answer of Use the following to answer questions: Table: Profit-Maximizing Monopolist $$\begin{array} { c c c c c c c } 
\hline \begin{array} { c } 
\text { Quantity } \
\text { Price (\$) }
\end{array} & \begin{array} { c } 
\text { Total } \
\text { (Units) }
\end{array} & \begin{array} { c } 
\text { Average } \
\text { Cost (\$) }
\end{array} & \begin{array} { c } 
\text { Average } \
\text { Cost (\$) }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenue (\$) }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Cost (\$) }
\end{array} & \text { Revenue (\$) } \
\hline 11 & 6 & 17 & & & \
10 & 7 & 19 & & & \
9 & 8 & 21 & & & \
8 & 9 & 23 & & & \
7 & 10 & 25 & & & \
\hline
\end{array}$$
-(Table: Profit-Maximizing Monopolist) Refer to the table. For the quantity of 6 units, this monopolist's average cost and average revenue levels are:
A) $2.71 and $10, respectively.
B) $2.83 and $11, respectively.
C) $2.71 and $2, respectively.
D) $2.83 and $2, respectively.

Use the Following to Answer Questions: Table: Profit-Maximizing Monopolist -(Table: Profit-Maximizing Monopolist) Refer to the Table