-Refer to the Above Graph to Answer This Question

question 131

Multiple Choice

-Refer to the above graph to answer this question.Suppose that the graph represents a monopolist.What is the profit maximizing price and output?

• A)$10 and 50.
• B)$12 and 40.
• C)$12 and 100.
• D)$14 and 30.
• E)Cannot be determined.

---

Definitions:

Opportunity Cost

The potential benefit that is missed out on when choosing one alternative over another.

Opportunity Costs

The cost of an alternative that must be foregone to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action.

Make Total Cost

An approach to calculate the comprehensive cost of manufacturing a product, including raw materials, labor, and overheads.

Buy Total Cost

The total expense incurred to purchase an item or service, including the purchase price and any additional fees or expenses.