If a monopolist's price is $50 and average total cost is $43, then the average profit is $7.

Name: If a monopolist's price is $50 and average total cost is $43, then the average profit is $7.
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Quizplus · Accepted Answer

The average profit for a monopolist can be calculated as the difference between the price and average total cost. In this case, the difference between $50 and $43 is $7, which represents the average profit per unit sold. Therefore, the statement is true.

If a Monopolist's Price Is $50 and Average Total Cost