The Demand for a Monopolist's Output Is , Where

question 45

Multiple Choice

The demand for a monopolist's output is , where p is its price. It has constant marginal costs equal to $5 per unit. What price will it charge to maximize its profits?

• A) $33
• B) $12
• C) $26
• D) $17
• E) $5

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Definitions:

Absolutism

A political theory that holds all power should be vested in one ruler or other authority, with no checks or balances.

Deviant Behavior

Actions or behaviors that violate social norms or expectations, often resulting in negative social judgments.

Rich and Powerful

Individuals or groups possessing considerable financial wealth and significant influence over social or political matters.

Deviance

Behaviors or actions that deviate from societal norms or expectations, which can be criminal or non-criminal in nature.