The Following Figure Shows the Demand, Marginal Revenue, and Marginal

question 23

Multiple Choice

The following figure shows the demand, marginal revenue, and marginal cost curves for a profit maximizing monopolist.

-Refer to Figure .Which of the following conclusions can be drawn from this figure?

• A)The monopolist produces at the point where marginal cost is zero.
• B)The monopolist incurs a fixed marginal cost of OC'.
• C)The monopolist charges a price of OP' and total revenue is OP'D'Q'.
• D)The consumer surplus enjoyed by customers is PC'D".

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Definitions:

Psychological

Pertaining to the mind or mental processes, involving emotions, behavior, and cognitive functions.

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A theoretical approach in psychology that emphasizes unconscious mental processes and early childhood experiences in shaping personality and behavior.