A Profit-Maximizing Monopolist Faces a Downward-Sloping Demand Curve That Has

question 44

Multiple Choice

A profit-maximizing monopolist faces a downward-sloping demand curve that has a constant elasticity of -3.The firm finds it optimal to charge a price of $12 for its output.What is its marginal cost at this level of output?

• A)$5
• B)$25
• C)$24
• D)$8
• E)$12

---

Definitions:

Cognition

Cognition refers to the mental processes involved in gaining knowledge and comprehension, including thinking, knowing, remembering, judging, and problem-solving.

Antisocial Personality Disorder

A mental health disorder characterized by a long-term pattern of disregard for, or violation of, the rights of others.

Hippocampus

A region of the brain that is associated with memory formation, navigation, and the processing of emotional responses.

Biological Research

Studies in the field of biology that advance our understanding of living organisms and their interactions.