Figure 15-15
-Refer to Figure 15-15. To maximize its profit, a monopolist would choose which of the following outcomes?
A)Q = 30 and P = 30
B)Q = 30 and P = 60
C)Q = 45 and P = 45
D)Q = 60 and P = 30

Question

Figure 15-15 
-Refer to Figure 15-15. To maximize its profit, a monopolist would choose which of the following outcomes?
A)Q = 30 and P = 30 
B)Q = 30 and P = 60 
C)Q = 45 and P = 45 
D)Q = 60 and P = 30

Quizplus · Accepted Answer

A monopolist maximizes profit by producing the quantity where marginal cost equals marginal revenue and charging the highest price consumers are willing to pay for that quantity. In this case, Q = 30 and P = 60 likely represents that scenario.

Figure 15-15 -Refer to Figure 15-15. to Maximize Its Profit, a Monopolist