Suppose the figure below shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist.
At this monopolist's profit-maximizing level of output, its total revenue equals the area:
A. 0FLE.
B. ELJB.
C. 0HNC.
D. 0FJB.
Answer: D
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A) 21 pounds B) 17 pounds C) 11 pounds D) 4 pounds
Stagflation is the conjunction of
a. stagnation and recession. b. inflation and stagnation. c. depression and inflation. d. stagnation and deflation.
The difference between the real interest rate and the nominal interest rate gives the inflation rate in an economy in a particular year
a. True b. False Indicate whether the statement is true or false
Bill and Bev are playing the ultimatum game, starting with $50 . A coin flip results in Bev being the one to propose a division of the $50 . If Bev acts as economic theory assumes, she should propose that
a. she gets $30 and Bill gets $20. b. she gets $25 and Bill gets $25. c. she gets $24 and Bill gets $26. d. she gets $49 and Bill gets $1.