Suppose the Accompanying Table Describes the Relationship Between Price and Quantity

question 121

Multiple Choice

Suppose the accompanying table describes the relationship between price and quantity demanded for a monopolist.  
$$\begin{array} { | c | c | } \hline \text { Quntity } & \text { Price } \\\hline 1 & \$ 10 \\\hline 2 & \$ 9 \\\hline 3 & \$ 8 \\\hline 4 & \$ 7 \\\hline 5 & \$ 6 \\\hline 6 & \$ 5 \\\hline 7 & \$ 4 \\\hline 8 & \$ 3 \\\hline\end{array}$$ If the marginal cost of producing each unit of output is $5, then at the monopolist's profit-maximizing level of output, the monopolist produces ________ units of output than is socially optimal.

• A)3 fewer
• B)3 more
• C)2 fewer
• D)1 more

---

Definitions:

Impact

The strong effect or influence that something has on a situation or person.

Commit Suicide

The act of intentionally causing one’s own death.

United States

A country in North America consisting of 50 states, a federal district, and various territories.

People

Human beings collectively or considered generally, often mentioned in the context of society, communities, or demographics.