Figure 8.12
-Figure 8.12 shows a demand and costs of an unregulated monopoly. At the output level of 22,000 units

Question

Quizplus · Accepted Answer

At an output level of 22,000 units for an unregulated monopoly, if the firm's marginal revenue is smaller than its marginal cost, it indicates the firm has surpassed its profit-maximizing output level, where marginal revenue equals marginal cost. Continuing to produce beyond this point reduces the firm's economic profit, potentially to zero, indicating all of the statements are correct.

Figure 8.12 -Figure 8.12 Shows a Demand and Costs of an Unregulated