The Table Given Below Shows the Price, Marginal Revenue and Marginal

question 66

Multiple Choice

The table given below shows the price, marginal revenue and marginal cost of a monopolist at different levels of the output. The firm does not incur a fixed cost of production.Table 11.4

-Refer to Table 11.4. Assuming that the monopolist is maximizing profits, the price the monopolist will charge is _____.

• A)$13
• B)$14
• C)$12
• D)$16
• E)$15

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Definitions:

Time-consuming

Describes tasks or activities that require a lot of time to complete, often more than is desired or expected.

Experimental Research

A scientific approach that seeks to determine cause-and-effect relationships by manipulating independent variables and observing their effects on dependent variables.

Independent Variable

In an experiment, the stimulus variable or condition the experimenter manipulates to learn its effect on the dependent variable.

Manipulated

Altered or controlled by someone or something in a skillful or sometimes deceitful manner.