Table 14-13
The following table gives information on the price,quantity,and total cost of production for a monopolist.

-Refer to Table 14-13.If the monopolist maximizes profits,he will charge a price of
A) $4.
B) $3.
C) $2.
D) $1.

Question

Table 14-13
The following table gives information on the price,quantity,and total cost of production for a monopolist.
 
-Refer to Table 14-13.If the monopolist maximizes profits,he will charge a price of
A) $4. 
B) $3. 
C) $2. 
D) $1.

Quizplus · Accepted Answer

A monopolist maximizes profits by setting a price where marginal cost equals marginal revenue. In this scenario, the price of $4 likely corresponds to this condition, maximizing profit.

Table 14-13 The Following Table Gives Information on the Price,quantity,and Total Cost