If the Marginal Cost of the 1000^th Unit Produced by a Monopolist

question 87

Multiple Choice

If the marginal cost of the 1000^th unit produced by a monopolist is $16 and its marginal revenue is $20,what should the monopolist do?

• A)Produce more until the marginal profit becomes zero.
• B)Produce less since the costs will be less and therefore the profit will be greater.
• C)Produce less since it will be able to sell them at a higher price and therefore obtain greater profits.
• D)Produce more until the marginal revenue becomes zero.

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Definitions:

Emotion-focused Coping

A stress management strategy that involves trying to reduce negative emotional responses associated with stress such as embarrassment, fear, anxiety, depression, excitement, and frustration.

Problem-focused Coping

A strategy aimed at addressing the root cause of stress by changing the situation or how one interacts with it.

Neuroimmunological Coping

A theoretical concept that suggests the immune system and neurological responses may interact and influence an individual's ability to cope with stress.

Health Psychology

A field of psychology focused on understanding how psychological, behavioral, and cultural factors contribute to physical health and illness.