If a Monopolist's Price Is $50 Per Unit and Its

question 167

Multiple Choice

If a monopolist's price is $50 per unit and its marginal cost is $25, then

• A)to maximize profit the firm should increase output.
• B)to maximize profit the firm should decrease output.
• C)to maximize profit the firm should continue to produce the output it is producing.
• D)Not enough information is given to say what the firm should do to maximize profit.

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Definitions:

Base Pairs

The pairs of nucleotides (adenine with thymine, and cytosine with guanine) that form the rungs of the DNA double helix, essential for coding genetic information.

DNA Molecule

A DNA molecule is a complex, double-helical structure carrying the genetic information necessary for an organism's growth, development, functioning, and reproduction.

Gene

A sequence of DNA or RNA which codes for a molecule that has a function and is the basic physical and functional unit of heredity.

Natural Selection

a process by which evolutionary changes occur in species, where individuals with traits better suited to their environment are more likely to survive and reproduce.