Use Figure: Monopoly Profit Maximization. The figure shows the demand curve, marginal revenue curve, marginal cost curve, and average total cost curve that are faced by a monopolist. Suppose that the firm is operating at its profit-maximizing point. The total revenue of the firm is _____, and the total cost of the firm is:
Figure: Monopoly Profit Maximization
A) $700; $500.
B) $840; 700.
C) $700; $300.
D) $ 500; $700.
Correct Answer:
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