Scenario 15-2
A monopoly firm maximizes its profit by producing 500 units output (so Q = 500) .At that level of output, its marginal revenue is $32, its average revenue is $42, and its average total cost is $36.
-Refer to Scenario 15-2.What is the firm's profit-maximizing price
A) $32
B) between $33 and $36
C) between $37 and $41
D) $42
Correct Answer:
Verified
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