According to the above figure, the maximum profit the monopolist can receive is
A) 0.
B) $1,500 per day.
C) $9,000 per day.
D) $7,500 per day.
B
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Which of the following statements is FALSE?
A) The federal budget deficit in 2004 was about 4 percent of the GDP. B) During the past five years, the U.S. public debt has been increasing. C) The public debt of $25 billion is the accumulated debt of all U.S. individuals, firms, and institutions. D) A budget deficit of $25 billion in a given year increases the public debt by $25 billion.
The graph which represents the distribution of income in an economy is called the
A) Laffer curve. B) Lorenz curve. C) distribution curve. D) aggregate demand curve.
Eric lost his job because a recession caused his employer's sales to fall. This is an example of:
A. involuntary unemployment. B. frictional unemployment. C. structural unemployment. D. cyclical unemployment.
In order to sell additional units the monopolist must ___________ the price.
Fill in the blank(s) with the appropriate word(s).