For a monopolist to sell an output level of 10 units, the price must be $8.MR at this output level will be A) $8 and

Name: For a monopolist to sell an output level of 10 units, the price must be $8.MR at this output level will be A)> $8 and $16.
Brand: Quizplus
Rating: 4.7 (41 reviews)

Question

For a monopolist to sell an output level of 10 units, the price must be $8.MR at this output level will be A)> $8 and < $16. B)< $8. C)= $8. D)> $16.

Quizplus · Accepted Answer

For a monopolist, marginal revenue (MR) is always less than the price due to the downward-sloping demand curve. Therefore, if the price is $8, MR must be less than $8.

For a Monopolist to Sell an Output Level of 10