Figure 15-7
-Refer to Figure 15-7. A profit-maximizing monopolist would earn total revenues of
A)$81.
B)$144.
C)$225.
D)$240.

Name: Figure 15-7 -Refer to Figure 15-7. A profit-maximizing monopolist would earn total revenues of A)$81. B)$144. C)$225. D)$240.
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Question

Figure 15-7 
-Refer to Figure 15-7. A profit-maximizing monopolist would earn total revenues of
A)$81. 
B)$144. 
C)$225. 
D)$240.

Quizplus · Accepted Answer

The monopolist would choose the output level where MR=MC, which in this case is at a quantity of 8. At a quantity of 8, the price charged would be $30, resulting in total revenues of $240 (8*$30=$240).

Figure 15-7 -Refer to Figure 15-7. a Profit-Maximizing Monopolist Would Earn Total