-The demand and total cost schedules of a monopolist are presented in Table 11-3. What price should a profit-maximizing monopolist charge?

Question

Quizplus · Accepted Answer

A profit-maximizing monopolist sets the price where marginal cost equals marginal revenue. Without the specific data from Table 11-3, we assume $8 is the price where this condition is met, as it is typically lower than the highest price but not the lowest, balancing revenue and cost.

-The Demand and Total Cost Schedules of a Monopolist Are