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The Figure Above Shows a Monopoly's Total Revenue and Total

question 178

Multiple Choice

   The figure above shows a monopoly's total revenue and total cost curves. -Using the figure above,which of the following statements are correct? i.When 3 haircuts are produced,the firm's ATC is $10. ii.If the firm charges each customer the same price for a haircut,the price of a haircut is $14. iii.The firm is NOT a perfect competitor. A)  i only B)  ii only C)  i and ii D)  i and iii E)  i, ii, and iii
The figure above shows a monopoly's total revenue and total cost curves.
-Using the figure above,which of the following statements are correct?
i.When 3 haircuts are produced,the firm's ATC is $10.
ii.If the firm charges each customer the same price for a haircut,the price of a haircut is $14.
iii.The firm is NOT a perfect competitor.

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