A Single-Price Monopoly Is Producing at an Output Level Where

question 11

Multiple Choice

A single-price monopoly is producing at an output level where marginal revenue is $15,marginal cost is $13,and price is $20.This monopoly is

• A) not maximizing its profit and should decrease output to increase its profit.
• B) not maximizing its profit and should increase output to increase its profit.
• C) maximizing its profit but should shut down.
• D) maximizing its profit and should not shut down.
• E) maximizing its profit but still should decrease output to earn even more profit.

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