At What Level of Output Would a Profit-Maximizing Monopolist Choose

question 24

Multiple Choice

At what level of output would a profit-maximizing monopolist choose to produce at?

• A) where total cost is minimized
• B) where total revenue is maximized
• C) where marginal revenue equals marginal cost
• D) where average total cost is minimized

---

Definitions:

Social Responsibility Pyramid

A framework used to depict how a business should prioritize its responsibilities, from basic economic functions to ethical duties.

Philanthropic Responsibility

The duty of businesses and organizations to contribute to the welfare of society through charitable donations, community service, and ethical practices.

Deontology

Deontology is a branch of ethics that focuses on the morality of actions based on whether they adhere to established rules or duties, rather than on the consequences of the actions.

Virtue Ethics

An approach to ethics that emphasizes an individual's character as the key element of ethical thinking, rather than rules or consequences.