Suppose that a monopolist is producing an output level of 10,000 units. At that output level, both MR and MC equal $5, AR equals $7, and ATC equals $6. Which of the following statements is correct?
a. the firm is maximizing its total profit, which equals $10,000.
b. total cost equals $60,000.
c. total revenue equals $70,000.
d. All of these.
d. All of these.
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