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Use the Following to Answer Questions: Table: Profit-Maximizing Monopolist -(Table: Profit-Maximizing Monopolist) Refer to the Table

Question 3

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Use the following to answer questions: Table: Profit-Maximizing Monopolist  Quantity  Price ($)   Total  (Units)   Average  Cost ($)   Average  Cost ($)   Marginal  Revenue ($)   Marginal  Cost ($)   Revenue ($)  11617107199821892371025\begin{array} { c c c c c c c } \hline \begin{array} { c } \text { Quantity } \\\text { Price (\$) }\end{array} & \begin{array} { c } \text { Total } \\\text { (Units) }\end{array} & \begin{array} { c } \text { Average } \\\text { Cost (\$) }\end{array} & \begin{array} { c } \text { Average } \\\text { Cost (\$) }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Revenue (\$) }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Cost (\$) }\end{array} & \text { Revenue (\$) } \\\hline 11 & 6 & 17 & & & \\10 & 7 & 19 & & & \\9 & 8 & 21 & & & \\8 & 9 & 23 & & & \\7 & 10 & 25 & & & \\\hline\end{array}
-(Table: Profit-Maximizing Monopolist) Refer to the table. When this monopolist sells 8 units, its average cost and marginal cost per unit levels are:


A) $2.63 and $2, respectively.
B) $2.56 and $4, respectively.
C) $2.56 and $2, respectively.
D) $2.63 and $4, respectively.

Correct Answer:

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