Use the following to answer questions: Table: Profit-Maximizing Monopolist $$\begin{array} { c c c c c c c }
\hline \begin{array} { c }
\text { Quantity } \
\text { Price (\$) }
\end{array} & \begin{array} { c }
\text { Total } \
\text { (Units) }
\end{array} & \begin{array} { c }
\text { Average } \
\text { Cost (\$) }
\end{array} & \begin{array} { c }
\text { Average } \
\text { Cost (\$) }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Revenue (\$) }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Cost (\$) }
\end{array} & \text { Revenue (\$) } \
\hline 11 & 6 & 17 & & & \
10 & 7 & 19 & & & \
9 & 8 & 21 & & & \
8 & 9 & 23 & & & \
7 & 10 & 25 & & & \
\hline
\end{array}$$
-(Table: Profit-Maximizing Monopolist) Refer to the table. The profit-maximizing quantity for this monopolist is ________ units
A) 7
B) 8
C) 9
D) 10

Question

Use the following to answer questions: Table: Profit-Maximizing Monopolist $$\begin{array} { c c c c c c c } 
\hline \begin{array} { c } 
\text { Quantity } \
\text { Price (\$) }
\end{array} & \begin{array} { c } 
\text { Total } \
\text { (Units) }
\end{array} & \begin{array} { c } 
\text { Average } \
\text { Cost (\$) }
\end{array} & \begin{array} { c } 
\text { Average } \
\text { Cost (\$) }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenue (\$) }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Cost (\$) }
\end{array} & \text { Revenue (\$) } \
\hline 11 & 6 & 17 & & & \
10 & 7 & 19 & & & \
9 & 8 & 21 & & & \
8 & 9 & 23 & & & \
7 & 10 & 25 & & & \
\hline
\end{array}$$
-(Table: Profit-Maximizing Monopolist) Refer to the table. The profit-maximizing quantity for this monopolist is ________ units
A) 7
B) 8
C) 9
D) 10

Quizplus · Accepted Answer

The profit-maximizing quantity for a monopolist is where marginal revenue equals marginal cost. Since the table is incomplete, we assume the missing values align with typical monopolist behavior, and the closest option is 8 units.

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