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

question 17

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 at an output of 10 units a monopolist is earning a positive profit, marginal revenue is $6, and marginal cost is $4, then the monopolist:

• A)is in equilibrium.
• B)should increase output.
• C)should reduce output.
• D)should lower the price at the current output level.
• E)should raise the price at the current output level.

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Definitions:

Hindbrain

The posterior part of the brain, including the cerebellum, pons, and medulla, involved in regulating basic life functions like heartbeat and breathing.

Reflexes

Involuntary and nearly instantaneous movements in response to stimuli, which are mediated through the nervous system without conscious thought.

Coordination

The ability to use different parts of the body together smoothly and efficiently.

Central Nervous

Often referred to as the central nervous system, it includes the brain and spinal cord, responsible for processing and sending out signals to the rest of the body.