-Refer to the table above.If these data refer to a profit-maximizing monopolist,the firm will produce where __________,which in this example means that output will be __________ units,and it will be sold at a price of ________ per unit.
A) P = MC;3;$8
B) MR = MC;5;$6
C) P = MR;4;$7
D) MR = MC;3;$8
E) P = MC;5;$6

Question

-Refer to the table above.If these data refer to a profit-maximizing monopolist,the firm will produce where __________,which in this example means that output will be __________ units,and it will be sold at a price of ________ per unit.
A) P = MC;3;$8 
B) MR = MC;5;$6 
C) P = MR;4;$7 
D) MR = MC;3;$8 
E) P = MC;5;$6

Quizplus · Accepted Answer

A profit-maximizing monopolist produces where marginal revenue (MR) equals marginal cost (MC). In this example, this occurs at an output of 3 units, which are sold at a price of $8 per unit.

-Refer to the Table Above