Refer to the Accompanying Figure to Answer the Following Questions

question 13

Multiple Choice

Refer to the accompanying figure to answer the following questions.

-The revenue received by the profit-maximizing monopolist is

• A) $900.
• B) $150.
• C) $300.
• D) $100.
• E) $450.

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Definitions:

Opportunity Costs

The financial downside to eschewing the next top alternative in the spectrum of choices.

Marginal Costs

Marginal costs refer to the additional cost incurred from producing one more unit of a good or service.

Microeconomics

The branch of economics that studies the behavior of individuals and firms in making decisions on the allocation of limited resources.

Macroeconomics

The branch of economics that studies the behavior and performance of an economy as a whole, including inflation, unemployment, and economic growth.