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:

Chronic Disease

A long-term health condition that is persistent and typically requires ongoing medical attention or limits activities of daily living.

Chronic Stress

Persistent stress that continues over an extended period of time, leading to significant psychological and physical health issues.

Osteoarthritis

A degenerative joint disease characterized by the breakdown of cartilage and underlying bone, leading to pain and stiffness, especially in the hips, knees, and thumbs.

Joint

A point at which two bones connect in the body, facilitating movement and support, or a term indicating collective or combined effort in various contexts.