Consider the following diagram: 
Demonstrate graphically and explain verbally why producing output level Q0 is not the monopolist's profit maximizing output level.
Definitions:
Credit Sales
Sales made on account, allowing customers to pay for goods or services at a later date.
Direct Labor
The wages paid to employees who are directly involved in the production of goods or provision of services, considered a variable cost.
Direct Labor Rate
The cost per hour for labor directly involved in the production of goods or services.
Indirect Labor Rate
The cost of labor that cannot be directly traced to the production of goods or services, but is necessary for the process.
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