A Profit-Maximizing Monopolist Charges a Price of $14

question 96

Multiple Choice

A profit-maximizing monopolist charges a price of $14. The intersection of the marginal revenue curve and the marginal cost curve occurs where output is 15 units and marginal cost is $7. What is the monopolist's profit?

• A)$90
• B)$105
• C)$180
• D)Not enough information is given to determine the answer.

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Definitions:

Social Connection

denotes the relationships and interactions individuals have within a community or network, contributing to their sense of belonging.

Dominant Culture

The cultural values, practices, and beliefs that are most widely shared or held in high esteem by the majority of a society or group.

Middle Passage

The sea voyage segment of the triangular slave trade route, infamously brutal, that transported enslaved Africans to the Americas.

Pre-enslavement

The historical period or the conditions experienced by individuals or communities before they were subjected to slavery.