A Monopoly Is Producing a Level of Output at Which

question 4

Multiple Choice

A monopoly is producing a level of output at which price is $80,marginal revenue is $40,average total cost is $100,marginal cost is $40,and average fixed cost is $10.In order to maximize profit,the firm should

• A)produce more.
• B)keep output the same.
• C)produce less.
• D)shut down.

---

Definitions:

Direct Observation

A method of gathering data through firsthand witnessing of behavior, rather than relying on reports or inferences.

B Data

Behavior-based data collected through direct observation in psychological research or assessments.

S Data

Self-report data or information provided by individual participants about themselves, often used in psychological research and assessments.

Personality Psychologist

A scientist who studies the various aspects of personality, including traits, behaviors, and the processes that underlie personality formation and expression.