Figure 15-4

-Refer to Figure 15-4.A profit-maximizing monopoly's total revenue is equal to
A) P4 x Q3.
B) P5 x Q1.
C) P3 x Q4.
D) (P4-P2) x Q3.

Name: Figure 15-4 -Refer to Figure 15-4.A profit-maximizing monopoly's total revenue is equal to A) P4 x Q3. B) P5 x Q1. C) P3 x Q4. D) (P4-P2) x Q3.
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Question

Figure 15-4
 
-Refer to Figure 15-4.A profit-maximizing monopoly's total revenue is equal to
A) P4 x Q3. 
B) P5 x Q1. 
C) P3 x Q4. 
D) (P4-P2) x Q3.

Quizplus · Accepted Answer

A profit-maximizing monopoly's total revenue is calculated by multiplying the price it charges (P4) by the quantity it sells (Q3).

Figure 15-4 -Refer to Figure 15-4.A Profit-Maximizing Monopoly's Total Revenue Is Equal