Table 241 Monopoly Costs and Revenue In Table 24

question 138

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,the maximum profit that can be achieved is

• A)-$200.
• B)$100.
• C)$250.
• D)$500.

---

Definitions:

Market Output

The aggregate amount of products and services created and available for purchase within a market.

Merging of Firms

The process where two or more separate entities come together to form a single, combined organization, typically to achieve economic efficiencies or market advantages.

Identical Product

A product that is exactly the same in every detail and attribute as another, making them indistinguishable from each other.

High Barriers

Obstacles that make it difficult for new competitors to enter a market, including high start-up costs, complex regulations, or strong brand loyalty.