Assume That a Profit Maximizing Monopolist Is Producing a Quantity

question 1

Multiple Choice

Assume that a profit maximizing monopolist is producing a quantity such that marginal revenue exceeds marginal cost. We can conclude that the:

• A) firm is maximizing profit.
• B) firm's output is smaller than the profit maximizing quantity.
• C) firm's output is larger than the profit maximizing quantity.
• D) firm's output does not maximize profit, but we cannot conclude whether the output is too large or too small.

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