$50 $45 $40 $35 $30 $25 ATC, Demand = P $20 $15 "LRATC = LRMC $10 MR $5 $0 20 40 60 80 100 120 Output (Q) The diagram above shows the Demand, MR, and cost curves for a monopolist in both the short-run and long-run. According to the information on the graph, the monopolist will maximize profit in the SHORT-run by choosing Output (Q) level and in the LONG- run by choosing Output (Q) level Select one: О а. 25;B 40 оь. 40; 25 О с. 25; 80 O d. 40; 80

$50 $45 $40 $35 $30 $25 ATC, Demand = P $20 $15 "LRATC = LRMC $10 MR $5 $0 20 40 60 80 100 120 Output (Q) The diagram above shows the Demand, MR, and cost curves for a monopolist in both the short-run and long-run. According to the information on the graph, the monopolist will maximize profit in the SHORT-run by choosing Output (Q) level and in the LONG- run by choosing Output (Q) level Select one: О а. 25;B 40 оь. 40; 25 О с. 25; 80 O d. 40; 80

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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