Table 14-17 -Refer to Table 14-17.If a Monopolist Faces a Constant Marginal

question 511

Multiple Choice

Table 14-17

-Refer to Table 14-17.If a monopolist faces a constant marginal cost of $1,how much output should the firm produce in order to equate marginal revenue with marginal cost?

• A) 3 units
• B) 4 units
• C) 5 units
• D) 6 units

---

Definitions:

Population Growth Rate

The rate at which the number of individuals in a population increases in a given time period as a result of births, deaths, and migration, usually expressed as a percentage.

Developed Countries

Nations with relatively high levels of economic growth and security, characterized by strong infrastructure, high gross domestic product per capita, and generally high standards of living.

Developing Countries

Countries with lower levels of economic development, characterized by lower industrialization and lower human development indices.

Capital

Assets used for the production of goods and services, often including things like machines, buildings, and tools.