Which of the following is a correct representation of the profit maximization condition for a monopoly?
A) P = MR
B) MC = MR
C) P = ATC + MR
D) MR = MC + ATC

Question

Quizplus · Accepted Answer

The profit maximization condition for a monopoly is MC = MR. This means that the monopolist will produce the quantity of output where marginal revenue (MR) equals marginal cost (MC) in order to maximize profits.

Which of the Following Is a Correct Representation of the Profit