At the profit-maximizing level of production of a monopolist,________.

Question

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A monopolist maximizes its profits at the level of output where marginal revenue equals marginal cost. This is because marginal revenue represents the additional revenue gained from selling one more unit, while marginal cost represents the additional cost incurred from producing one more unit. Therefore, the monopolist wants to produce up to the point where the cost of producing additional units equals the revenue generated from selling additional units, in order to maximize their profits.

At the Profit-Maximizing Level of Production of a Monopolist,________