If a Monopolist's Price Is $50 at 63 Units of Output

question 228

Multiple Choice

If a monopolist's price is $50 at 63 units of output and average total cost equals $43, then the firm's total profit is

• A)$3,150.
• B)$2,709.
• C)$441.
• D)$7.

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Definitions:

Sales Proposal

A written document designed to offer products or services to potential buyers, outlining the benefits, pricing, and terms of the sale to persuade the customer to make a purchase.

Incongruous

Incongruous refers to something that is not in harmony or keeping with the surroundings or other aspects of something, often leading to a sense of discrepancy or inconsistency.

Distorted

The term distorted describes something that has been twisted out of its original, true, or natural shape, often leading to a misrepresentation of reality.

Inadequate

Lacking the quality or quantity required; insufficient for a purpose.