The Demand for a Monopolist's Output Is , Where

question 63

Multiple Choice

The demand for a monopolist's output is , where p is its price. It has constant marginal costs equal to $6 per unit. What price will it charge to maximize its profits?

• A) $9
• B) $18
• C) $21
• D) $15
• E) $6

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Definitions:

Discouraged Workers

Individuals who are not actively seeking work because they believe no jobs are available for them or there are no jobs for which they would qualify.

Unemployment Rate

The rate of unemployment among people actively looking for work in the labor force.

Discouraged Workers

Individuals who are not actively looking for work because they believe no jobs are available for them or there are no positions for which they qualify.

Underemployed Workers

Individuals working less than they would like to or in positions that do not utilize their skills or education level.