Table 24.1Monopoly Costs and RevenueQuantityPriceTotal Cost1$500$4002$450$6503$400$9504$350$1,3005$300$1,700In Table 24.1, the maximum profit that can be achieved is
A. -$200.
B. $100.
C. $500.
D. $250.
Answer: D
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In order to maximize the net gains from an activity, a Maeva should choose the quantity at which the marginal:
a. benefit exceeds the marginal cost by the greatest amount. b. benefit is zero. c. benefit is equal to the marginal cost. d. cost is lowest