Answer the Question on the Basis of the Following Demand

question 12

Multiple Choice

Answer the question on the basis of the following demand and cost data for a pure monopolist: $\begin{array}{l}\begin{array}{ccc}&\text { Demand Data }&\\&&\text { Quantity }\\\text { Price } & & \text { Demanded } \\\hline\$ 5.50 & & 3 \\5.00 & & 4 \\4.50 & & 5 \\3.85 & & 6 \\3.35 & & 7 \\2.90 & & 8 \\2.50 & & 9\end{array}\begin{array}{ccc}&\text { Cost Data }&\\\\\text { Output } & & \text { Total Cost } \\\hline3& & \$ 5.00 \\4&&6.00\\5 & & 6.00 \\6 & & 7.50 \\7 & & 9.00 \\8 & & 11.00 \\9 & & 14.00\end{array}\end{array}$ Refer to the data.The profit-maximizing price for the monopolist will be:

• A) $5.00.
• B) $2.90.
• C) $3.35.
• D) $4.50.

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