Table 15-13
The following table gives information on the price, quantity, and total cost of production for a monopolist.
-Refer to Table 15-13. If the monopolist maximizes profits, he will charge a price of
A)$4.
B)$3.
C)$2.
D)$1.

Question

Table 15-13
The following table gives information on the price, quantity, and total cost of production for a monopolist. 
-Refer to Table 15-13. If the monopolist maximizes profits, he will charge a price of
A)$4. 
B)$3. 
C)$2. 
D)$1.

Quizplus · Accepted Answer

The monopolist maximizes profits by setting a price where marginal cost equals marginal revenue. In this scenario, the price is $4.

Table 15-13 the Following Table Gives Information on the Price, Quantity, and Quantity