Figure 15-5 -Refer to Figure 15-5.If the Monopolist Charges Price P* for Charges

question 103

Multiple Choice

Figure 15-5

-Refer to Figure 15-5.If the monopolist charges price P* for output Q*, in order to maximize profit or minimize loss in the short run, it should

• A)continue to produce because price is greater than average variable cost.
• B)shut down because price is greater than marginal cost.
• C)shut down because price is less than average total cost.
• D)continue to produce because a monopolist always earns a profit.

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