1000 900 $00 700 600 500 400 300 200- 100 MC ATC MR 5 10 15 20 25 30 35 40 Quantity Refer to the above figure. What price and quantity pair in the figure above will the monopolist choose? a. P = $15; Q = 400 b. P $400; Q = 25 C. P = $500; Q = 25 d. P= $700; Q = 15

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter9: Monopoly
Section: Chapter Questions
Problem 18RQ: What is the usual shape of a total revenue curve for a monopolist? Why?
Question
1000
900
$00
700
600
500
400
300
200-
100
MC
ATC
MR
5 10 15 20 25 30 35 40 Quantity
Refer to the above figure. What price and quantity pair in the figure above will the monopolist choose?
a.
P = $15; Q = 400
b.
P $400; Q = 25
C.
P = $500; Q = 25
d. P= $700; Q = 15
Transcribed Image Text:1000 900 $00 700 600 500 400 300 200- 100 MC ATC MR 5 10 15 20 25 30 35 40 Quantity Refer to the above figure. What price and quantity pair in the figure above will the monopolist choose? a. P = $15; Q = 400 b. P $400; Q = 25 C. P = $500; Q = 25 d. P= $700; Q = 15
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