Suppose that a monopolist is operating at its profit-maximizing point by charging a price of $18 and selling 50 units of output. If the marginal revenue of the firm is $10 and the average total cost is $12, then the firm's marginal cost is _____, and the total profit is:
A) $10; $300.
B) $12; $300.
C) $10; $400.
D) $12; $400.
Correct Answer:
Verified
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