The Following Table Shows the Price and Revenue for a Monopolist

question 64

Multiple Choice

The following table shows the price and revenue for a monopolist at different levels of production.The monopolist incurs no marginal cost of production.

$$\begin{array} { | c | c | c | } \hline \text { Quantity } & \text { Price } & \text { Revenue } \\\hline 2 & 16 & 32 \\\hline 3 & 15 & 45 \\\hline 4 & 14.5 & 58 \\\hline 5 & 11.6 & 58 \\\hline 6 & 9.5 & 57 \\\hline 7 & 8 & 56\\\hline\end{array}$$

-Refer to Table .Identify the profit maximizing production level for this monopolist.

• A)2 units
• B)3 units
• C)4 units
• D)5 units

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Definitions:

Mathematics

The abstract science of number, quantity, and space, either as abstract concepts (pure mathematics) or as applied to other disciplines such as physics and engineering (applied mathematics).

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The provision and system of education designed to reach large numbers of people, generally through a public schooling system.