Refer to the graph shown. If this monopolist were allowed to choose the profit-maximizing level of output, it would charge a price of:
A. $2.
B. $12.
C. $3.
D. $8.
Answer: B
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A) decreases; lowers B) increases; raises C) decreases; raises D) increases; lowers
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The rate of growth in the productivity of capital is 1? percent, the rate of growth of capital is 2? percent, the rate of growth of labor is 1? percent, and the rate of growth in the productivity of labor is 3 percent. From this we know that
What will be an ideal response?