Figure 15-4
-Refer to Figure 15-4. A profit-maximizing monopoly's total revenue is equal to
A)P5 x Q3.
B)P4 x Q5.
C)(P5-P3) x Q3.
D)(P5-P4) x Q3.

Name: Figure 15-4 -Refer to Figure 15-4. A profit-maximizing monopoly's total revenue is equal to A)P5 x Q3. B)P4 x Q5. C)(P5-P3) x Q3. D)(P5-P4) x Q3.
Brand: Quizplus
Rating: 4.9 (27 reviews)

Question

Figure 15-4 
-Refer to Figure 15-4. A profit-maximizing monopoly's total revenue is equal to
A)P5 x Q3. 
B)P4 x Q5. 
C)(P5-P3) x Q3. 
D)(P5-P4) x Q3.

Quizplus · Accepted Answer

In a monopoly, total revenue is calculated by multiplying the price at which the product is sold (P5) by the quantity sold (Q3).

Figure 15-4 -Refer to Figure 15-4. a Profit-Maximizing Monopoly's Total Revenue Is