The monopoly firm's profit-maximizing price is:
A.given by the point on the ATC curve for the profit-maximizing quantity.
B.given by the point on the demand curve for the profit-maximizing quantity.
C.determined for the quantity of output where MR MC by the greatest amount.
D.found where MR MC at the monopolist's profit-maximizing quantity of output.

Question

The monopoly firm's profit-maximizing price is:
A.given by the point on the ATC curve for the profit-maximizing quantity.
B.given by the point on the demand curve for the profit-maximizing quantity.
C.determined for the quantity of output where MR > MC by the greatest amount.
D.found where MR > MC at the monopolist's profit-maximizing quantity of output.

Quizplus · Accepted Answer

The Answer of The monopoly firm's profit-maximizing price is:
A.given by the point on the ATC curve for the profit-maximizing quantity.
B.given by the point on the demand curve for the profit-maximizing quantity.
C.determined for the quantity of output where MR > MC by the greatest amount.
D.found where MR > MC at the monopolist's profit-maximizing quantity of output.

The Monopoly Firm's Profit-Maximizing Price Is