$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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27
$50
$45
$40
i of
$35
$30
$25
ATC,
Demand = P
$20
$15
FLRATC = 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:
а. 25; 40
b. 40; 25
С. 25;B 80
d. 40; 80
Transcribed Image Text:27 $50 $45 $40 i of $35 $30 $25 ATC, Demand = P $20 $15 FLRATC = 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: а. 25; 40 b. 40; 25 С. 25;B 80 d. 40; 80
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