Suppose when a monopolist produces 75 units its average revenue is $10 per unit, its marginal revenue is $5 per unit, its marginal cost is $6 per unit, and its average total cost is $5 per unit. What can we conclude about this monopolist?
a. The monopolist is currently maximizing profits, and its total profits are $375.
b. The monopolist is currently maximizing profits, and its total profits are $300.
c. The monopolist is not currently maximizing profits; it should produce more units and charge a lower price to maximize profits.
d. The monopolist is not currently maximizing profits; it should produce fewer units and charge a higher price to maximize profits.
d
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If a taxpayer itemizes deductions, then an exemption is worth the same as a deduction
a. True b. False
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A. economies of scale. B. diseconomies of scale. C. constant economies to scale. D. minimum average total cost.
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a. True b. False