Refer to the graph shown. If this monopolist sets the price to maximize profit, it will charge:
A) $16 for its product.
B) $12 for its product.
C) $8 for its product.
D) $10 for its product.

Question

Refer to the graph shown. If this monopolist sets the price to maximize profit, it will charge: 
A) $16 for its product. 
B) $12 for its product. 
C) $8 for its product. 
D) $10 for its product.

Quizplus · Accepted Answer

The Answer of Refer to the graph shown. If this monopolist sets the price to maximize profit, it will charge: 
A) $16 for its product. 
B) $12 for its product. 
C) $8 for its product. 
D) $10 for its product.

Refer to the Graph Shown