A monopolist's total profit is shown by the difference between price and average cost per unit times the number of units sold.

Question

Quizplus · Accepted Answer

The formula for a monopolist's total profit is: 
Total Profit = (Price - Average Cost per unit) x Quantity Sold. This is because a monopolist has the power to set the price and the quantity sold, which affects the total revenue and the total cost. The difference between price and average cost per unit represents the profit margin for the monopolist.

A Monopolist's Total Profit Is Shown by the Difference Between