The Figures Given Below Represent the Revenue Curves of a Monopolist.Figure

question 103

Multiple Choice

The figures given below represent the revenue curves of a monopolist.Figure 11.2
TR: Total revenue curve
AR: Average revenue curve
MR: Marginal revenue curve
-If a monopolist is producing at a point at which marginal revenue is greater than marginal cost, then it should:

• A)continue producing at the current level.
• B)raise its prices.
• C)lower its prices.
• D)increase the level of production.
• E)decrease the level of production.

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