The Following Graph Shows the Average and Marginal Revenue Curves

question 72

Multiple Choice

The following graph shows the average and marginal revenue curves for a monopolist:

-Refer to the graph above to answer this question.At what price is total revenue maximized?

• A)0.
• B)$30.
• C)$300.
• D)$600.

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Definitions:

Equivalent

Equal in value, amount, function, meaning, etc., to something else.

Preceding January

The January that occurred immediately before the current date or specified event.

Retail Store

A business establishment that sells goods and services directly to consumers, typically at a markup from wholesale prices.

Interest

The fee for borrowing funds or the reward for lending them, often stated as a percentage of the initial sum.