The Primary Objective of a Monopolist Is To

question 48

Multiple Choice

The primary objective of a monopolist is to:

• A)charge the highest possible price.
• B)maximize total revenues.
• C)minimize total costs.
• D)maximize profits.

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Definitions:

Variable Cost

Financial obligations that move together with the scale of manufacturing or sales activity, such as the cost of materials and labor.

Charitable Contribution

indicates a donation made by an individual or an organization to a nonprofit entity as a philanthropic gesture, often eligible for tax deduction.

Entrance Fee

A charge for entering a facility, participating in an event, or joining an organization or club.

Fixed Inspection Cost

A cost that remains constant in total for the inspection process regardless of the level of production.