A Profit-Maximizing Monopolist Charges a Price of $12

question 560

Multiple Choice

A profit-maximizing monopolist charges a price of $12. The intersection of the marginal revenue and marginal cost curves occurs where output is 10 units and marginal cost is $6. Average total cost for 10 units of output is $5. What is the monopolist's profit?

• A)$60
• B)$70
• C)$100
• D)$120

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Definitions:

Protein Synthesis

The biological process by which cells generate new proteins from amino acids based on instructions encoded in DNA.

Template

A pattern or model used as a guide for making something.

TRNAs

Short for transfer RNAs; molecules that help decode a messenger RNA (mRNA) sequence into a protein during protein synthesis.

Anticodons

Sequences of three nucleotides in a transfer RNA molecule that are complementary to a specific codon in messenger RNA.