-The unregulated, single-price monopolist illustrated in the figure above has a total cost of
A) $8.00 per day.
B) $16.00 per day.
C) $32.00 per day.
D) $40.00 per day.

Question

-The unregulated, single-price monopolist illustrated in the figure above has a total cost of
A) $8.00 per day. 
B) $16.00 per day. 
C) $32.00 per day. 
D) $40.00 per day.

Quizplus · Accepted Answer

The total cost for a monopolist is calculated by multiplying the average total cost (ATC) by the quantity produced. If the figure shows that the ATC is $8 and the quantity produced is 4 units, then the total cost is $8 * 4 = $32 per day.

-The Unregulated, Single-Price Monopolist Illustrated in the Figure Above Has