Suppose That a Single- Price Monopolist Knows the Following Information

question 66

Multiple Choice

Suppose that a single- price monopolist knows the following information: $$\begin{array} { | l | l | l | l | l | l | l | l | } \hline \text { Price } & \text { Quantity } & \text { TR } & \text { MR } & \text { Fixed Cost } & \text { TC } & \text { AC } & \text { MC } \\\hline \$ 5.00 & 2000 & & \$ 4.00 & \$ 2000 & & \$ 5.00 & \$ 3.00 \\\hline\end{array}$$
The monopolist could maximize profits in the short run by

• A) lowering price and increasing output.
• B) raising price and lowering output.
• C) shutting down.
• D) lowering price and leaving output unchanged.
• E) staying at the current price and output.

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Definitions:

Behavioural Modelling

A method of teaching or learning new skills and behaviours by mimicking or practicing observed actions.

Sensitivity Training

Programs designed to enhance individuals’ understanding and empathy towards the differences and diversity of others in the workplace.

Team Building

Activities and exercises aimed at enhancing the relationships and efficiency of a team within an organization.

Mentoring

A development relationship where a more experienced individual guides and advises a less experienced person.