The Following Table Shows the Total Revenue and Total Cost

question 107

Multiple Choice

The following table shows the total revenue and total cost for a monopolist at various levels of output.
Table 11-2 $$\begin{array} { | c | c | c | } \hline \text { Output } & \text { Total Revenue } & \text { Total Cost } \\\hline 1 & 12 & 22 \\\hline 2 & 26 & 26 \\\hline 3 & 50 & 32 \\\hline 4 & 58 & 40 \\\hline 5 & 60 & 51 \\\hline 6 & 61 & 66 \\\hline 7 & 58 & 86 \\\hline 8 & 48 & 112 \\\hline 9 & 36 & 142 \\\hline\end{array}$$
-Refer to Table 11-2.The economic profit earned by the firm by producing the profit-maximizing level of output is _____.

• A)$13
• B)$9
• C)$18
• D)$4

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Definitions:

Human Relations

The study and management of how people interact within groups, aiming to improve job satisfaction and productivity through understanding and communication.

Common Sense

Sound practical judgment concerning everyday matters, or a basic ability to perceive, understand, and judge in a manner shared by nearly all people.

Human Relations

The study and management of interactions and relationships between people, especially in the workplace.

Human Relations

The study and management of how individuals interact within groups, often with a focus on improving workplace atmosphere and productivity.