Output Price Total Cost 0 $ 500 $150 1 300 300 2 250 475 3 200 675 4 150 100 900 1,200 Refer to the demand and cost data for a pure monopolist given in the table. If the monopolist were forced to produce the socially optimal output through the imposition of a ceiling price, the ceiling price would have to be set at Multiple Choice O O $100. $200. $150. $250.
Output Price Total Cost 0 $ 500 $150 1 300 300 2 250 475 3 200 675 4 150 100 900 1,200 Refer to the demand and cost data for a pure monopolist given in the table. If the monopolist were forced to produce the socially optimal output through the imposition of a ceiling price, the ceiling price would have to be set at Multiple Choice O O $100. $200. $150. $250.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Output
Price
Total Cost
0
$ 500
$150
1
300
300
2
250
475
3
200
675
4
150
100
900
1,200
Refer to the demand and cost data for a pure monopolist given in the table. If the monopolist were forced to produce the socially optimal output through the imposition of a ceiling price, the ceiling price
would have to be set at
Multiple Choice
O
O
$100.
$200.
$150.
$250.
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