Figure 15-5
-Refer to Figure 15-5.A profit-maximizing monopoly's total cost is equal to
A) P4 x Q3.
B) P2 x Q3.
C) P1 x Q3.
D) (P4-P1)x Q3.

Name: Figure 15-5 -Refer to Figure 15-5.A profit-maximizing monopoly's total cost is equal to A) P4 x Q3. B) P2 x Q3. C) P1 x Q3. D) (P4-P1)x Q3.
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Question

Figure 15-5 
-Refer to Figure 15-5.A profit-maximizing monopoly's total cost is equal to
A) P4 x Q3. 
B) P2 x Q3. 
C) P1 x Q3. 
D) (P4-P1)x Q3.

Quizplus · Accepted Answer

A profit-maximizing monopoly's total cost is calculated by multiplying the average cost (P1) by the quantity produced (Q3).

Figure 15-5 -Refer to Figure 15-5.A Profit-Maximizing Monopoly's Total Cost Is Equal