The Table Given Below Shows the Prices Charged and Marginal

question 46

Multiple Choice

The table given below shows the prices charged and marginal cost incurred by a monopolist for different units of the output. Table 10.3

- What price will the profit-maximizing firm described in Table 10.3 charge,if the firm is earning a positive economic profit?

• A)$1,500
• B)$1,400
• C)$1,350
• D)$1,300
• E)$1,550

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Definitions:

Candy

Sweet confections made from sugar and other ingredients, popular as a treat or snack.

Pareto Optimal

A condition where no individual or preference criterion can be better off without making at least one individual or preference criterion worse off, representing an optimum allocation of resources.

Labor

The human effort, including physical and mental capabilities, used in the production of goods and services.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts and/or the physical factories, machinery, and equipment used to produce goods or services.