The Figure Below Shows the Demand Schedule and Demand Curve

question 17

Multiple Choice

The figure below shows the demand schedule and demand curve for a product produced by a single- price monopolist.
$\begin{array}{cc}\text { Price (\$) } & \begin{array}{l}\text { Quantity } \\\text { Demanded }\end{array} \\\hline 8 & 5 \\7 & 6 \\6 & 7 \\5 & 8 \\4 & 9 \\3 & 10 \\2 & 11\end{array}$
FIGURE 10- 1
-Suppose that a single- price monopolist calculates that at its present output,marginal revenue is $2 and marginal cost is $1.If the price of the product is $3,the monopolist could maximize its profits by

• A)doing nothing.
• B)lowering price and raising output.
• C)lowering price and leaving output unchanged.
• D)shutting down.
• E)raising price and leaving output unchanged.

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The process of adjusting to significant changes in one's social environment or status.

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Quantitative measures that assign size, length, area, volume, or another metric quantity to objects or phenomena.