The Following Graph Gives Cost and Revenue Data for a Monopolist

question 9

Multiple Choice

The following graph gives cost and revenue data for a monopolist:

-Refer to the above graph to answer this question.If the monopolist is unregulated and is maximizing its total profits,what is the level of its total revenue?

• A)$80.
• B)$700.
• C)$1,400.
• D)$3,150.
• E)$4,500.

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Definitions:

Scientific Management

A theory of management that analyzes and synthesizes workflows, aiming to improve economic efficiency, especially labor productivity, by systematic study of work methods.

Labor Force

All the members of a particular organization or population who are able to work, viewed collectively.

Conflict

A situation where opposing ideas, interests, or individuals compete, leading to disagreements or disputes within a group or organization.

Differential Piece-rate

A wage system where employees are paid based on the quantity of work produced, with rates changing at specific production thresholds to incentivize higher output.