To maximize profit, a pure monopolist must
A)maximize its total revenue.
B)maximize the difference between marginal revenue and marginal cost.
C)maximize the difference between total revenue and total cost.
D)produce where average total cost is at a minimum.

Question

Quizplus · Accepted Answer

To maximize profit, a pure monopolist, like any firm, must maximize the difference between total revenue and total cost, which is the definition of profit.

To Maximize Profit, a Pure Monopolist Must