Refer to the Graph Shown

question 71

Multiple Choice

Refer to the graph shown. Assuming that this monopolist maximizes profit, the marginal cost of its last unit of output will be:

• A)$16.
• B)$12.
• C)$ 8.
• D)$10.

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Definitions:

Funeral Home

A business establishment that provides services related to the burial, cremation, and memorialization of deceased individuals.

Foreign Markets

The markets outside the domestic boundaries of a country where businesses seek to expand their operations and sales.

Market Development

A marketing strategy that focuses on selling existing goods and services to new customers.

Market Penetration

The process or strategy of entering a market and establishing a significant presence within that market.