The Following Table Shows the Price and Revenue for a Monopolist

question 31

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 .The profit maximizing output level in this case is determined by which of the following criteria?

• A)The monopolist will produce where marginal revenue = 0
• B)The monopolist will produce where marginal cost = 0
• C)The monopolist will produce where total revenue is highest.
• D)The monopolist will produce where per unit price is highest.

---

Definitions:

Middle-Aged Adult

A person typically between the ages of 40 and 65, experiencing various life and physiological changes.

Weight Loss

A decrease in body weight, achieved through diet, exercise, or a combination of both methods, often for health or aesthetic reasons.

Canadian Cancer Society

A national community-based organization of volunteers whose mission is the eradication of cancer and the enhancement of the quality of life of people living with cancer.

Breast Cancer

A disease in which malignant (cancer) cells form in the tissues of the breast, potentially leading to various health complications.