Reference: Ref 13-2 (Table: Profit-Maximizing Monopolist) Refer to the table. When this monopolist is producing 9 units:
A) its marginal cost is below the marginal revenue level.
B) its average revenue is greater than the price it receives for the product.
C) it could increase its profit by raising the price and selling fewer units.
D) it is producing at the socially optimal level.

Question

Reference: Ref 13-2 (Table: Profit-Maximizing Monopolist) Refer to the table. When this monopolist is producing 9 units:
A) its marginal cost is below the marginal revenue level. 
B) its average revenue is greater than the price it receives for the product. 
C) it could increase its profit by raising the price and selling fewer units. 
D) it is producing at the socially optimal level.

Quizplus · Accepted Answer

The Answer of  Reference: Ref 13-2 (Table: Profit-Maximizing Monopolist) Refer to the table. When this monopolist is producing 9 units:
A) its marginal cost is below the marginal revenue level. 
B) its average revenue is greater than the price it receives for the product. 
C) it could increase its profit by raising the price and selling fewer units. 
D) it is producing at the socially optimal level.

Reference: Ref 13-2 (Table: Profit-Maximizing Monopolist) Refer to the Table