The Following Figure Shows the Revenue Curves of a Monopolist

question 44

Multiple Choice

The following figure shows the revenue curves of a monopolist: Figure 24.6 D: Average revenue
MR: Marginal revenue
In Figure 24.6, assume that marginal costs are constant at $2, 500 and fixed costs are 0.What would be the amount of consumer surplus if the market was perfectly competitive?

• A)$1, 000, 000
• B)$500, 000
• C)$300, 000
• D)$250, 000

---

Definitions:

Court Jester

A historical character in royal courts known for using humor and wit to entertain, but also to speak truths others might hesitate to express.

Participatives

Members of a group or organization who actively take part in its activities and decision-making processes.

Personality Differences

Variations in the characteristic patterns of thinking, feeling, and behaving that distinguish one individual from another.

Teamwork

The cooperative effort of a group of people seeking a common goal, leveraging diverse skills and strengths.