-In the Above Figure, for a Single-Price Monopolist Producing at Its

question 110

Multiple Choice

-In the above figure, for a single-price monopolist producing at its profit-maximizing equilibrium price and quantity, the price elasticity of demand at this equilibrium will be

• A) greater than 1 and the monopolist's total revenue is maximized.
• B) less than 1 and the monopolist's economic profit could be larger.
• C) equal to 1 and the monopolist's total revenue is maximized.
• D) greater than 1 and the economic profit is maximized but the total revenue is not.

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