The XYZ Company Is a Profit-Maximizing Firm with a Monopoly

question 86

Multiple Choice

The XYZ Company is a profit-maximizing firm with a monopoly in the production of pennants.The firm sells its pennants for $10 each.We can conclude that the XYZ Company is producing a level of output at which:

• A) average total cost equals $10.
• B) average total cost is greater than $10.
• C) marginal revenue equals $10.
• D) marginal cost equals marginal revenue.

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