If a Monopolist's Price Is $50 at 63 Units of Output

question 204

Multiple Choice

If a monopolist's price is $50 at 63 units of output and marginal revenue equals marginal cost, and average total cost equals $43, then the firm's total profit is

• A)$3,150.
• B)$2,709.
• C)$441.
• D)$7.

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Definitions:

Cognitive Development

The process by which an individual's ability to think, reason, and understand the world around them grows and evolves over time.

Piaget

Refers to Jean Piaget, a Swiss psychologist known for his pioneering work on the cognitive development of children.

Male

Referring to the sex that is typically characterized by the production of small gametes (sperm) for reproduction, often associated with specific physical and hormonal traits.

Female

Referring to the sex of a species that is typically associated with reproductive functions that involve producing eggs or bearing offspring.