Table 241 Monopoly Costs and Revenue In Table 24

question 69

Multiple Choice

Table 24.1 Monopoly Costs and Revenue
$$\begin{array} { | c | c | c | } \hline \text { Quantity } & \text { Price } & \text { Total Cost } \\\hline 1 & \$ 500 & \$ 400 \\\hline 2 & \$ 450 & \$ 650 \\\hline 3 & \$ 400 & \$ 950 \\\hline 4 & \$ 350 & \$ 1,300 \\\hline 5 & \$ 300 & \$ 1,700 \\\hline\end{array}$$ In Table 24.1,according to the profit maximization rule,at the profit-maximizing level of output,total revenue is

• A)$900.
• B)$1,200.
• C)$650.
• D)$950.

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Definitions:

Kilocalories

A unit of energy measurement in nutrition, commonly called a calorie, equivalent to 1000 small calories.

Energy Content

The amount of energy stored in a substance or system, which can be released or utilized through various processes.

Lipid

Substance composed principally of carbon, oxygen, and hydrogen; contains a lower ratio of oxygen to carbon and is less polar than carbohydrates; generally soluble in nonpolar solvents.

Carbohydrate

Monosaccharide (simple sugar) or the organic molecules composed of monosaccharides bound together by chemical bonds—for example, glycogen. For each carbon atom in the molecule, there are typically one oxygen molecule and two hydrogen molecules.